The U.S. Will Extend Suspension of Some Sanctions Against Iran on Wednesday

The Donald Trump administration plans to extend the suspension of sanctions against the Islamic Republic of Iran on Wednesday, May 17, which was emphasized in the nuclear agreement of July 2015 between Tehran and six world powers. Reuters reported, citing two unnamed U.S. officials, that the Trump administration will officially announce the extension of the sanctions suspension that we accepted as part of the nuclear deal with Iran. A spokesperson for the U.S. State Department declined to comment on this matter. The Barack Obama administration, which ended its term in January this year, extended the suspension of Iran's sanctions before leaving the White House. Some sanctions will lose their validity if not extended by the Trump administration this week. The Trump administration's decision is set to be made just before the Iranian presidential elections on Friday, where Hassan Rouhani, the Islamic Republic's president, is fighting for re-election against his conservative rival, Ebrahim Raisi. During his campaign, Rouhani frequently referred to his major achievement, reaching a nuclear agreement with world powers to lift sanctions, considering it a step towards improving the country's economic situation and opening relations with the outside world. However, his conservative rivals have accused his administration of failing to utilize this agreement to improve people's livelihoods, stating that despite the lifting of sanctions, oil revenues are still not entering the country, and foreign investment has not materialized in Iran. Ebrahim Raisi, the main conservative candidate, told the Iranian president during the third televised debate, 'You have unjustly kept the country waiting for four years. One of the fruits you should have harvested from the JCPOA was foreign investment. How much was that? In 2016, total foreign investment was $500 million. Let’s not defer it to the future.' In this context, the British newspaper Financial Times reported on Monday, citing three U.S. officials, that non-American companies trading with Iran will be exempt from the sanctions. According to this report, the U.S. government and other countries have informed Iran that this suspension will remain in effect. The suspension, which is set to expire in the coming days, is a central part of the Joint Comprehensive Plan of Action (JCPOA), under which Iran agreed to halt many of its nuclear activities in exchange for the lifting or suspension of international sanctions against it. Timothy O'Toole, a legal expert on sanctions at the Miller & Chevalier law firm, told the Financial Times, 'If the U.S. government does not extend this suspension, it will commit a major blunder. Accordingly, there will be no obstacle for Iran to resume its nuclear program.' Despite the lifting of Iran's nuclear sanctions, the United States has maintained missile sanctions and those penalties due to what it calls 'Iran's continued support for terrorism.' During his election campaign, Donald Trump harshly criticized the nuclear agreement with Iran, stating that if he came to power, his top priority would be to tear up this 'disastrous agreement.' After being elected president, he also stated that he had never seen an agreement as bad as this one. However, reports indicate that U.S. allies have convinced the country to adhere to the terms of this agreement. The Trump administration has stated in recent weeks that Iran has complied with its commitments under the JCPOA but added that it is seeking to revise this agreement. Washington has emphasized that it will remain committed to implementing the JCPOA until then. Iranian officials have rejected any revision of the JCPOA, calling it an international commitment. In addition to the United States, Russia, China, France, Britain, and Germany also signed this agreement.