Washington 0
2 November 2018

Ahead of the re-imposition of key U.S. sanctions against Iran, Secretary Pompeo indicated that "we expect to issue some temporary allotments to eight jurisdictions, but only because they have demonstrated significant reductions in their crude oil and cooperation on many other fronts". Noting that "100 per cent of the revenue that Iran received from the sale of crude oil will be held in foreign accounts... only for humanitarian trade or bilateral trade in non-sanctioned goods and services", Pompeo predicted that "these new sanctions will accelerate the highly successful effects of our sanctions that have already occurred". Secretary Mnuchin indicated that the treasury department would be adding "more than 700 names to our list of blocked entities".  

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