Iran to fight for lifting of US sanctions at ICJ
Iran will argue today against renewed sanctions imposed by the US, as a bitter legal battle between Iran and the US opens before the International Court of Justice (ICJ) in The Hague, Netherlands. US President Donald Trump reimposed a wave of tough unilateral sanctions on Iran three weeks ago, bringing back into effect harsh penalties lifted under a landmark 2015 agreement. Here's more.
US has no rights to reinstate such measures: Iran
The second round of US measures is to come into effect in early November, targeting Iran's valuable oil and energy sector. Iran filed its case before the ICJ in July, urging the judges to order the immediate lifting of sanctions, which it said would cause irreparable prejudice. The US had no right to reinstate such measures, Iran added, as it demanded compensation for damages.
Iran says US move violates a 1955 treaty
Iran maintained restoring the penalties lifted under the historic 2015 deal, aimed at curbing Iran's nuclear ambitions, violated a decades-old 1955 Treaty of Amity and Economic Relations signed between the two nations. The ICJ, established in 1946 to rule in disputes between countries, is expected to take a couple of months to decide whether to grant Iran's request for a provisional ruling.
New sanctions have already started hurting Iran in various ways
Iran says that the new sanctions are already hurting its economy. Iran's currency, the Rial, has lost around half its value since April. International companies, including France's Total, Peugeot and Renault, and Germany's Siemens, have suspended operations in Iran in the wake of the move.
Trump dubs Iran's nuclear deal as a 'horrible one-sided deal'
Trump described the 2015 deal between Iran and the five permanent members of the UN Security Council, as well as Germany, as a horrible one-sided deal that failed to achieve the objective of blocking all paths to Iranian nuclear bomb. Even though all of the other parties pleaded with him not to abandon the pact, Trump pulled out and announced he would reinstate sanctions.
Trump's move is aimed to put financial pressure on Iran
In his executive order, Trump argued that the sanctions would turn up the financial pressure on Iran to come to a comprehensive and lasting solution regarding activities that the international community regarded as malign such as Iran's "ballistic missile program" and its support for terrorism.