US Treasury Secretary Steven Mnuchin speaks on sanctions on Iran's supreme leaders in the White House in Washington, DC on June 24, 2019. AFP
US Treasury Secretary Steven Mnuchin speaks on sanctions on Iran's supreme leaders in the White House in Washington, DC on June 24, 2019. AFP
US Treasury Secretary Steven Mnuchin speaks on sanctions on Iran's supreme leaders in the White House in Washington, DC on June 24, 2019. AFP
US Treasury Secretary Steven Mnuchin speaks on sanctions on Iran's supreme leaders in the White House in Washington, DC on June 24, 2019. AFP

US sanctions target Iranian supreme leader Ayatollah Khamenei


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The Trump administration on Monday issued new sanctions, against the office of Iran's supreme leader Ayatollah Ali Khamenei and commanders in the revolutionary guard, while threatening to sanction Foreign Minister Javad Zarif this week.

US President Donald Trump promised to impose the sanctions after Tehran shot down a $150 million (Dh550.9m) US surveillance drone near the Strait of Hormuz last week.

Mr Trump said the latest sanctions would also target the inner circle of Mr Khamenei.

“The supreme leader of Iran is the one who ultimately is responsible for the hostile conduct of the regime," he said.

"He is respected within his country. His office oversees the regime’s most brutal instruments."

Mr Trump said that the sanctions were in response to Iranian escalations in the Gulf, including the drone incident.

“I think a lot of restraint has been shown by us – a lot of restraint – and that doesn’t mean we’re going to show it in the future,” he said.

Mr Trump last week ordered then abruptly cancelled planned air strikes against Iran after the incident.

He described Iranian attacks as “not good and not appropriate” and said he would “deny the supreme leader and the supreme leader’s office, and those closely affiliated with him and the office access to key financial resources”.

“These measures represent a strong and proportionate response to Iran’s increasingly provocative actions,” Mr Trump said.

Eight commanders from Iran's Islamic Revolutionary Guard Corps have also been blacklisted. In April, the Trump administration designated the Guard as a terrorist organisation.

US Treasury Secretary Steven Mnuchin said the US would blacklist Iranian Foreign Minister Javad Zarif and block "billions" more in Iranian assets this week.

Mr Mnuchin said Washington did not consult allies on the sanctions, which are the latest in a series to target Iran since the US withdrew from the 2015 nuclear deal in May last year.

Tensions have rapidly increased in the Gulf since May this year, when the Trump administration revoked waivers on the import of Iranian oil, squeezing its economy.

Since then, attacks on six oil tankers near the Strait of Hormuz shipping lanes have raised the spectre of war and pushed up oil prices.

The US has blamed the attacks on Tehran.

The Trump administration hopes its "maximum pressure" campaign will force Iran to renegotiate a nuclear deal that also constrains its activities in the region.

The newly announced sanctions show the US is "doubling down" on its strategy, said Ariane Tabatabai, an expert on Iran at the Rand Corporation.

The US has already sanctioned more than 80 per cent of Iran’s economy,  Secretary of State Mike Pompeo said.

"The only path forward is for Iran to negotiate a comprehensive deal that addresses the full range of its destabilising behaviour," Mr Pompeo said on Monday.

"Until it does, our campaign of diplomatic isolation and maximum economic pressure will continue."

UAE currency: the story behind the money in your pockets
Match info

Karnataka Tuskers 110-3

J Charles 35, M Pretorius 1-19, Z Khan 0-16

Deccan Gladiators 111-5 in 8.3 overs

K Pollard 45*, S Zadran 2-18

Key recommendations
  • Fewer criminals put behind bars and more to serve sentences in the community, with short sentences scrapped and many inmates released earlier.
  • Greater use of curfews and exclusion zones to deliver tougher supervision than ever on criminals.
  • Explore wider powers for judges to punish offenders by blocking them from attending football matches, banning them from driving or travelling abroad through an expansion of ‘ancillary orders’.
  • More Intensive Supervision Courts to tackle the root causes of crime such as alcohol and drug abuse – forcing repeat offenders to take part in tough treatment programmes or face prison.
Syria squad

Goalkeepers: Ibrahim Alma, Mahmoud Al Youssef, Ahmad Madania.
Defenders: Ahmad Al Salih, Moayad Ajan, Jehad Al Baour, Omar Midani, Amro Jenyat, Hussein Jwayed, Nadim Sabagh, Abdul Malek Anezan.
Midfielders: Mahmoud Al Mawas, Mohammed Osman, Osama Omari, Tamer Haj Mohamad, Ahmad Ashkar, Youssef Kalfa, Zaher Midani, Khaled Al Mobayed, Fahd Youssef.
Forwards: Omar Khribin, Omar Al Somah, Mardik Mardikian.

Tearful appearance

Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday. 

Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow. 

She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.

A spokesman said her upset demeanour was due to a personal matter.

UAE currency: the story behind the money in your pockets
The most expensive investment mistake you will ever make

When is the best time to start saving in a pension? The answer is simple – at the earliest possible moment. The first pound, euro, dollar or dirham you invest is the most valuable, as it has so much longer to grow in value. If you start in your twenties, it could be invested for 40 years or more, which means you have decades for compound interest to work its magic.

“You get growth upon growth upon growth, followed by more growth. The earlier you start the process, the more it will all roll up,” says Chris Davies, chartered financial planner at The Fry Group in Dubai.

This table shows how much you would have in your pension at age 65, depending on when you start and how much you pay in (it assumes your investments grow 7 per cent a year after charges and you have no other savings).

Age

$250 a month

$500 a month

$1,000 a month

25

$640,829

$1,281,657

$2,563,315

35

$303,219

$606,439

$1,212,877

45

$131,596

$263,191

$526,382

55

$44,351

$88,702

$177,403

 

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UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

ELIO

Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett

Directors: Madeline Sharafian, Domee Shi, Adrian Molina

Rating: 4/5

The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en