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Iran And The Western World Economic Assignment

2194 words - 9 pages

Iran and the Western World Sanctions on Nuclear Enrichment and Weapons development.

The challenges between Iran and Western World started after the Iranian Revolution of 1979, and the United States imposed sanctions against Iran and expanded them in 1995 to include firms dealing with the Iranian government. In 2006, the UN Security Council passed Resolution 1696 and imposed sanctions after Iran refused to suspend its uranium enrichment program. U.S. sanctions initially targeted investments in oil, gas and petrochemicals, exports of refined petroleum products, and business dealings with the Iranian revolutionary guard corps.
UN sanctions against Iran
The UN Security Council passed a ...view middle of the document...

United Nations Security Council Resolution 1803 – was passed on 3 March 2008. Extended the asset freezes and called upon states to monitor the activities of Iranian banks, inspect Iranian ships and aircraft, and to monitor the movement of individuals involved with the program through their territory.
United Nations Security Council Resolution 1835 – was passed in 2008.
United Nations Security Council Resolution 1929 – was passed on 9 June 2010. Which banned Iran from participating in any activities related to ballistic missiles, tightened the arms embargo, travel bans on individuals involved with the program, froze the funds and assets of the Iranian Revolutionary Guard and Islamic Republic of Iran Shipping Lines, and recommended that states inspect Iranian cargo, prohibit the servicing of Iranian vessels involved in prohibited activities,
prevent the provision of financial services used for sensitive nuclear activities, closely watch Iranian individuals and entities when dealing with them, prohibit the opening of Iranian banks on their territory and prevent Iranian banks from entering into relationship with their banks if it might contribute to the nuclear program, and prevent financial institutions operating in their territory from opening offices and accounts in Iran.
United Nations Security Council Resolution 1984 – was passed on 9 June 2011. This resolution extended the mandate of the panel of experts that supports the Iran Sanctions Committee for one year.
United Nations Security Council Resolution 2049 – was passed on 7 June 2012. Which renewed the mandate of the Iran Sanctions Committee’s Panel of Experts for 13 months.
United Nations Security Council Resolution 2231 – was passed on 20 July 2015. To set out a schedule for suspending and eventually lifting UN sanctions, with provisions to re-impose UN sanctions in case of non-performance by Iran, in accordance with the Joint Comprehensive Plan of Action.
Following are some of the other sanctions against Iran.
Beijing has tried to accommodate US concerns about Iran. It has not developed trade and investment positions there as rapidly as it might have, and has shifted some Iran-related transactional flows into Renminbi to help the Obama administration avoid sanctioning Chinese banks.
India enacted a ban on the export of all items, materials, equipment, goods, and technology that could contribute to Iran's nuclear program.
South Korea imposed sanctions on 126 Iranian individuals and companies.
Australia has imposed financial sanctions and travel bans on individuals and entities involved in Iran's nuclear and missile programs or assist Iran in violating sanctions, and an arms embargo.
Canada imposed a ban on dealing in the property of designated Iranian nationals, a complete arms embargo, oil-refining equipment, items that could contribute to the Iranian nuclear program, the establishment of an Iranian financial institution, branch, subsidiary, or office in Canada or a Canadian...

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