Iran can weather U.S. sanctions, says foreign ministerStaff Writer | July 30, 2018
The Iranians can pass through the current "critical" stage in the face of revamped U.S. sanctions, Iran's Foreign Minister Mohammad Javad Zarif said.
Trade war Iran said that European countries will soon offer a package
He drew upon the U.S. threat of sanctions snap-back against Iran, saying that Iran will be able to improve the situation as "the world stands with us and we should use this opportunity."
"We can turn pressures into an increase in national production and non-oil exports and show the Americans that they should abandon" their approach of sanctioning, he said.
U.S. sanctions on Iran will snap back in August and November, a move after American withdrawal from the Iran nuclear deal on May 8.
The first part of the sanctions will snap back on August 6. These sanctions will include targeting Iran's automotive sector, trade in gold, and other key metals.
The remaining sanctions will snap back on November 4. These sanctions will include targeting Iran's energy sector and petroleum-related transactions, and transactions with the Central Bank of Iran.
Washington's withdrawal from the landmark Iran nuclear deal was criticized across the world. Some of its major European allies have been working to prevent the 2015 deal from falling apart.
Iran said that European countries will soon offer a package to protect Iran's interests in accordance with the 2015 deal. ■