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EU pledges to help Iran out of US oil ban
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IANS | 20 Aug, 2018
Iran's First Vice President Eshaq Jahangiri on Sunday said the European
Union (EU) has pledged to take action before the US ban on importing oil
from Iran takes effect in November, the media reported.
The
European countries have made this promise in an attempt to make up for
the possible losses that Tehran may suffer, Jahangiri was quoted as
saying by the Press TV. The US sanctions have so far not
limited European countries in the economic sector, particularly with
regard to oil purchases and trade, Jahangiri said, Xinhua reported. The
impact has not been "very determining" despite the departure of some
private companies, particularly the European ones, he added. US
President Donald Trump signed an executive order August 6 to reimpose
the first round of sanctions on Iran, which had been lifted under the
2015 nuclear deal, to levy "maximum economic pressure" on the Islamic
republic. The sanctions will cover Iran's purchases of US dollar, its trade in gold and precious metals, and its automotive sector. The
second round of embargo will be reimposed in early November with the
aim of curtailing Iran's oil exports and shipping sectors.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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