US sanctions on Iran will create more difficulties

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The US on Monday restored sanctions targeting Iran's oil, banking and transport sectors and threatened more actions to stop what Washington called its "outlaw" policies. Tehran called US moves economic warfare and vowed to defy them. Some international organizations and countries have also expressed their differing views against the US.

Iran: Unlawful US sanctions

Iran's Foreign Minister Mohammad Javad Zarif took to YouTube on Tuesday to dismiss US sanctions and Washington's demands of change from Tehran as "absurd, unlawful and fundamentally flawed."

"We have weathered difficult times in the face of 40 years of American hostility relying solely on our own resources, and today we and our partners across the globe will ensure that our people are least affected by this indiscriminate assault," Zarif said in a video message.

US Secretary of State Mike Pompeo described the sanctions as "the toughest sanctions ever placed" against Iran and are set to strangulate the Iranian economy in an effort to prevent it from developing nuclear weapons.

Russia: Sanctions not legitimate

Russian Foreign Minister Sergei Lavrov said on Tuesday that US sanctions were not legitimate, adding Russia and its European partners were looking for ways to maintain economic ties with Tehran.

Lavrov said Moscow, itself a target of separate US sanctions, expected there would be ways to pursue economic cooperation with Iran despite the reimposition of sanctions on Monday.

Speaking in Madrid, Lavrov said Washington had used "unacceptable methods" to pressure operators of the SWIFT global financial network into cutting off Iranian banks.

UN: Will respond to Iran's plea accordingly

Iran on Monday urged the UN to hold the US accountable for reimposing sanctions on Tehran, branding the measures illegal and in violation of a Security Council resolution.

Iranian Ambassador Gholamali Khoshroo said in a letter to UN Secretary-General Antonio Guterres that the "irresponsible conduct of the US necessitates a collective response to uphold the rule of law."

UN spokesman Stephane Dujarric said, "We will take a look at the letter and respond accordingly."

Swiss: US sanctions create more difficulties

Swiss President Alain Berset on Monday said the reimposition of sanctions against Tehran by the US is "creating more difficulties to find a way for the future."

Referring to the Joint Comprehensive Plan of Action (JCPOA) that formalized the Iranian nuclear deal in 2015, the president said Bern supports the deal under which sanctions against Iran were lifted.

Berset said he visited the International Atomic Energy Agency (IAEA) earlier this year and, "the message of this organization was that Iran is really implementing the deal."

He noted that "maybe there was a need for some discussions" after the deal.

Turkey: US upsets the global balance

Turkish President Recep Tayyip Erdogan on Tuesday hit out at the new sanctions on Iran, saying the US was aimed at upsetting the global balance and against international law.

Turkey Foreign Minister Mevlut Cavusoglu criticized the US renewal of sanctions on Tuesday, saying it was dangerous to isolate Iran and unfair to punish its people, Anadolu news agency reported.

"We do not believe any result can be reached with sanctions. I think meaningful dialogue and talks are more useful than sanctions," he said.

Cavusoglu also said it was not that easy for countries including Turkey and Japan to diversify energy resources to comply with the sanctions.

"Not only neighboring countries but many countries from many regions of the world are being impacted by these unilateral sanctions."

Turkish President Recep Tayyip Erdogan speaks during a meeting at the Turkish parliament in Ankara, Turkey, October 30, 2018. /VCG Photo

UAE: No impact on its economy

The US sanctions on Iran will not have any effect on the economy of the United Arab Emirates (UAE), UAE Central Bank Governor Mubarak Rashed Al Mansouri said Tuesday

"We don't expect (any) material impact due to Iran sanctions," Al Mansouri was quoted by the Gulf News in a report published on its website.

The central bank chief talked to reporters on the sidelines of the Institute of International Finance (IIF) Mena Financial Summit held in Abu Dhabi, the report said.

Al Mansouri said two Iranian banks, Bank Melli Iran and Bank Saderat Iran, would continue to function in the UAE to cater to Iranian nationals working in the country.

"The two Iranian banks have minimized their activity and are catering (to) Iranian nationals living in the UAE. It is difficult for them (Iranians) to open accounts with other banks," he said

Al Mansouri said UAE banks had taken measures to comply with the last US sanctions regime against Iran and these measures had not been dropped despite the later US lifting of sanctions.

He also said the UAE currency peg to the US dollar had served the country well.

(With inputs from agencies)