Details of the Return of US Sanctions; Hundreds of Iranian Companies and Individuals Sanctioned

On Monday, November 5, Mike Pompeo and Steve Mnuchin, the US Secretary of State and Treasury Secretary, announced the details of the reinstatement of US sanctions against Iran in a press conference. According to Mike Pompeo, the new round of sanctions includes 50 Iranian banks and their subsidiaries, and in the shipping and energy sectors, it includes over 200 individuals and vessels. Iran Air and 67 of its aircraft are also targeted by the sanctions. US officials have announced that the Iranian Atomic Energy Agency and 23 affiliated entities and individuals are included in the new sanctions list. The US Treasury Department's list includes banks such as Bank Melli, Arian Bank, Bank Ayandeh, Export Development Bank of Iran, Qavamin Bank, Sepah Bank, Industry and Mine Bank, the Iranian-European Handels Bank affiliated with the Industry and Mine Bank, Post Bank, Tejarat Bank, and Bank Day, among others. The foreign and domestic branches of these banks are also sanctioned. Several financial and investment institutions are also on the US sanctions list: Atieh Sazan Day Institute, Bouali Investment Company, Didar Iranian Development Holding Company, Fardad Trade-Gostar Company, Day Exchange, Day Leasing Company, Bank Day Brokerage Company, Royaye Rooz Kish Investment Company, Day Electronic Trade Company, Donyaye Shahr Kohan Development Company, Damavand Power Generation Company, Omid Bonyan Day Insurance Services Company, Abad Housing and Construction Company, and Day Iranian Financial and Accounting Services Company. Other sanctioned financial institutions and banks include Persia International Bank, First East Export Bank, and the private joint-stock company Bank Mellat. According to the US Secretary of State, the United States has placed a total of over 700 Iranian individuals, entities, aircraft, and vessels on its sanctions list. He promised that US sanctions pressure on Iran would be 'relentless.' Mr. Pompeo stated that due to US pressure, over 20 countries have stopped buying oil from Iran, resulting in a reduction of Iranian oil exports by more than one million barrels per day. The US Secretary of State emphasized that Iran has lost $2.5 billion in oil revenue due to the new sanctions. He reiterated that China, India, Japan, South Korea, Italy, Turkey, Taiwan, and Greece have received a six-month exemption from oil sanctions against Iran, but all these countries have committed to reducing their oil imports from Iran. Pompeo added that the sanctions 'will accelerate the decline of Iran's international economic activities.' The inclusion of nearly 250 Iranian nationals or those related to Iran in the 'Specially Designated Nationals and Blocked Persons List' is another action mentioned in the press statement of Pompeo and Mnuchin's press conference today. Mike Pompeo continued in the press conference on Monday that 'the Iranian government must change its position 180 degrees and behave like a normal country.' In response to a question about the difference between Iran and Saudi Arabia, Pompeo stated that their behavioral differences are 'very significant,' noting that while 'Saudi Arabia is working to combat terrorism, the Islamic Republic is the main destabilizing force in the Middle East.' The US Treasury Secretary had stated on Friday that as part of the reinstatement of sanctions, over 700 individuals or entities, including several banks and airlines, would be sanctioned. US officials have declared that the aim of these sanctions is to reduce Iran's oil exports to zero, but in some cases, temporary exemptions have been granted for oil imports from Iran by its allies. 'We are closely pursuing the sanctions,' Steve Mnuchin, the US Treasury Secretary, emphasized on Monday in his joint press conference, stating that the United States will closely monitor all actions and policies of the Islamic Republic. Mr. Mnuchin stressed that the United States expects all countries to comply with the sanctions, except for humanitarian cases, and clarified that 'we will not allow activities to be conducted in the name of humanitarian efforts if they have terrorist objectives.' The Treasury Secretary stated that 'companies around the world should know that we are rigorously enforcing the sanctions' and said, 'We want to make it clear to the leaders of Iran that they will be targeted by crushing pressures.' The US President, after withdrawing from the JCPOA on May 8, ordered the reinstatement of those US sanctions against Iran that had been suspended under the nuclear agreement in two 90-day and 180-day periods. Some of these sanctions, which included restrictions on the automotive industry, the buying and selling of precious metals, and Iran's access to dollars, were implemented in mid-August this year, and from November 5, other sanctions primarily targeting the oil and energy sector were reinstated. Among the consequences of the implementation of the first round of new US sanctions was the collapse of Iran's national currency, which reached an exchange rate of 13,000 to 19,000 tomans for each dollar. This has led many industries in Iran to face bankruptcy risks, and people are even struggling to find baby diapers. In this context, it has recently been reported that restaurants in Tehran have lost '30 to 70 percent' of their customers. Donald Trump stated on May 8 that the strongest, most severe, and most precise sanctions would be imposed against Iran, expressing hope that the United States would reach a new and 'fair' agreement with Iran. Previously, Mr. Trump had stated that he was ready to meet with Iranian officials without preconditions. In response to these statements, Ali Khamenei, the leader of the Islamic Republic, declared negotiations with the US 'forbidden,' stating that 'I made a mistake regarding the JCPOA negotiations.' Zarif: The US should change its approach to consider dialogue. The Iranian Foreign Minister has stated that if the US changes its 'approach' towards the nuclear agreement, Tehran will consider diplomatic talks with the United States for a new agreement. Trump: Iranian officials will finally 'use their intelligence' and negotiate. Mohammad Javad Zarif, in an exclusive interview with USA Today, stated that the Iranian government is putting a new diplomacy on its agenda if there are 'foundations for a fruitful dialogue' regarding the nuclear agreement. Donald Trump, on May 8, withdrew the US from the nuclear agreement with six world powers with Iran and said he was ready to negotiate for a new agreement that would also include Iran's regional role and missile program. According to USA Today, Zarif's remarks are one of the few signs indicating that the leadership of the Islamic Republic is ready to consider dialogue with the US if certain specific diplomatic conditions are met. Mr. Zarif emphasized that 'mutual trust is not a prerequisite for starting a dialogue - mutual respect is.'