ASEAN To Sign Cooperation Pact With Iran Despite US Sanctions

Amid US sanctions on Iran, Association of Southeast Asian Nations (ASEAN) will be signing a cooperation treaty with Iran. While the US looks to isolate Iran after pulling out from the Iran Nuclear Deal, ASEAN looks to build a wider economic cooperation with Iran. The agreement will be signed on July 30 in Singapore between Iran’s Foreign Minister and the ASEAN nations.¬†

This move comes just two months after Donald Trump, the US President pulled out from the 2015 Iran Nuclear Deal and announced sanctions on Iran. Experts believe that Asian nations would brush off the US sanctions and continue to maintain warm relations with Iran despite threats from Washington.

After pulling out from the treaty, Trump said that not only will he reimpose old sanctions on Iran but also impose new sanctions on Tehran. Since then the US has been exerting pressure on nations to cease any trade ties with Iran but does not seem to be happening.

Asia Will Continue To Trade With Iran: Experts

Experts believe that Russia, India, China and South Korea will continue to trade with Iran despite US¬†sanctions. Turkey also has openly defied Washington’s plea to suspend trade ties with Iran. As reported by PressTV, experts also stated that the withdrawal of European firms from the Iranian market with have little effect on the economy of Iran.

When the US pulled out of the Joint Comprehensive Plan of Action unilaterally in May, Russia, Europe and China held strong objections to the unprecedented move from Donald Trump. Since then the US has been heard saying that it will bring down Iran’s oil sale to zero and has asked all nations to suspend oil trade with Iran by November.

China which is at a trade war with the US is aligning itself with Iran by signing multi-billion dollars deals with Iran. China is the biggest trade ally of Iran and also the largest importer of Iran’s oil. There is little chance that China will defy Tehran.

More News at EurAsian Times

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