In comments made to the Interfax News Agency, Russian Foreign Minister Sergey Lavrov said that new methods of trading with Iran would need to be found following the new rounds of US sanctions against them.
Lavrov said that such a system would be put in place, and that the methods had been worked on since the 2015 P5+1 nuclear deal was reached. He said that Russia will independently trade with Iran irrespective of US “whims” about whether they want to allow trade or not.
The P5+1 deal was intended to allow Iran access to international trade. After the US withdraw from the pact earlier this year, they’ve threatened to punish any nations and companies that don’t comply with the US sanctions forbidding that trade.
Russia is still a signatory to the deal, as are China, Germany, France, and Britain. All these nations are expected to continue to trade with Iran, at least to some extent. Multiple nations are in the process of implementing legal avenues for continuing such trade without fearing US punishment.
Good for them. The whole world should give us a collective middle finger.
This illustrates a larger issue. The US will destroy its own financial power, by forcing offshore the things now done here, via its overuse of sanctions against too many targets at once. It is making the temptation too rewarding.
US financial power is based on being the cheapest and most convenient option. It exists and is quite convenient, so creation of something entirely new is too hard and not likely to be any easier. But the US is doing everything it can to reverse that calculus.
Offshoring made U.S. financial power possible, and, offshore profits are held in Manhattan, U.S., banks.
Improving the volume of U.S. domestically manufactured goods is needed for social peace. Financialization alone can’t provide to enough Americans.
However, Trump’s trade war seems more about protecting the existing transnational class (that are of his faction) from uncontrolled up-and-coming competition from new wannabe transnationals.
Protecting the U.S. from Chinese investment translates into not addressing the real sources of Chinese IP theft, but protecting the biggest players who already enjoys transnational access.
The United States has already sanctioned a lot of countries and threatening to sanction a whole bunch more . Soon if the sanctioned countries just trade with each other this will leave the USA isolated and actually sanctioned themselves .
Antiwar usually says I have to verify my email . but than my email is printed wrong so I cant verify my e mail I wish you would fix this so I can comment as eric rather than only as a quest
It sounds like your problem is with Disqus. They handle commenting for Antiwar.com.
Iran’s got gold!