On August 6th, the first batch of sanctions against the Islamic Republic will go into effect. This includes sanctions on the acquisition of US dollar banknotes by Iran’s government, sanctions on its trade in gold and other precious metals, sanctions on sales and transfer of aluminum, steel, coal, and graphite, and sanctions on Iran’s automotive sector. However, the second set of sanctions of November 4th will hit the crucial energy and banking sector. With the announcement of the re-installation of sanctions by President Donald Trump, Iran is in a unique position. Although the threat of sanctions is hanging over the country like the Sword of Damocles, Tehran is in a relatively comfortable position internationally to withstand pressure from Washington as the other signatories of the JCPOA remain supportive. Germany, France, and the UK have promised to soften the pain for Iran in order to keep the country in the […]