LINE

Text:AAAPrint
Politics

Iranian nuclear deal set to increase trade with China(2)

1
2015-07-15 08:03China Daily Editor: Wang Fan

Measures hit banks, oil, trade

How the sanctions put pressure on Teheran:

Financial/banking: Sanctions administered by the Treasury Department in Washington sought to isolate Iran from both the US and international financial systems.

Oil exports: Before 2012, half of Iran's government revenues came from oil exports. The sanctions cut its oil exports by more than half.

Trade: The US has had an embargo in place since 1995 that prohibits most domestic companies from trading with or investing in Iran.

Asset freezes and travel bans: US allies have cooperated in freezing Iranian assets worth huge sums of money. Two years ago, Iran held an estimated $100 billion in various currencies in accounts outside the country, but Teheran could access only $20 billion.

Weapons development: The US Iran-Iraq Arms Nonproliferation Act of 1992 calls for the sanctioning of any person or entity that assists Teheran in weapons development or the acquisition of "chemical, biological, nuclear, or destabilizing numbers and types of advanced conventional weapons".

Sources: The Fiscal Times, Council on Foreign Relations

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.