Secretary of State Mike Pompeo, left, and Treasury Secretary Steven Mnuchin, present details of the new sanctions on Iran, at the Foreign Press Center in Washington, Monday, Nov. 5, 2018. (AP Photo/J. Scott Applewhite)
US Secretary of State Mike Pompeo, left, and Treasury Secretary Steven Mnuchin present details of the new sanctions on Iran. AP Photo

US says it stands with Iranians as sanctions hit Tehran



The United States said it stood with the people of Iran in their demands for regime reforms as it reimposed sanctions on Tehran's banking, energy and shipping industries on Monday.

The sanctions take effect six months after President Donald Trump pulled out of the 2015 Iran nuclear deal, saying the US could not prevent an Iranian nuclear bomb under the "decaying and rotten structure of the current agreement".

"An important component of our diplomacy is standing with the Iranian people, they are the longest-suffering victims of the regime's brutality and economic mismanagement. We stand with them as they call for the regime to respect their human rights and dignity," said US Special Representative for Iran, Brian Hook.

He said Washington believed the Iranian nation had lost their confidence in its clerical rulers.

"The Iranian people have had 39 years of economic mismanagement ... They know very well that their economic problems are caused by the Iranian regime and not the United States," Mr Hook said in a conference call with reporters.

He said the Iranian economy was struggling because of the government's "negligence of its own people”.

Tehran had ruined agricultural land by building dams and using its funds in places like Iraq, Syria and Yemen. Iran had spent $4.6 billion in Syria, given $700 million to Hezbollah, and sent hundreds of millions to the Houthis in Yemen, he said.

"The purpose of the sanctions is to diminish the regime’s capacity to threaten the region,” Mr Hook said, calling them "the toughest sanctions that have ever been imposed" on Iran.

He said the sanctions had cost Iran billions of dollars in oil revenue since May.

Outlining the scope of the sanctions in Washington, Secretary of State Mike Pompeo and Treasury Secretary Steven Mnuchin said more than 700 entities were targeted, many for the first time.

Mr Pomeop also identified eight countries that were granted exemptions to temporarily continue buying Iranian oil - China, India, Greece, Italy, Taiwan, Japan, Turkey and South Korea.

The sanctioned Iranian entities include 50 Iranian banks, 200 individuals, vessels tied to Iran’s shipping and energy sector, and more than 65 Iranian aircraft. According to the US Treasury, the sanctions brings the total number of Iran-related targets to 900, the highest ever.

Mr Pompeo said more than 20 countries had already cut their oil imports from Iran. This has reduced purchases by more than 1 million barrels per day and has cost Iran $2.5 billion in oil revenue since May, he said.

“Treasury’s imposition of unprecedented financial pressure on Iran should make clear to the Iranian regime that they will face mounting financial isolation and economic stagnation until they fundamentally change their destabilising behaviour,” Mr Mnuchin said in a statement. He said the pressure “is only going to mount from here” unless Iran’s leaders halt its support for terrorism and abandon its nuclear ambitions “immediately”.

The resumption of sanctions prompted an air defence drill and an acknowledgement from President Hassan Rouhani that the nation was facing a "war situation".

But as Mr Rouhani stepped up the rhetoric, comparing Iran's current situation with the 1980s war against Iraqi dictator Saddam Hussein, Iran's foreign ministry shrugged off the re-imposition of sanctions, saying it was nothing new and that the country had gone through a wider range of sanctions in the past.

The ministry's spokesman, Baharam Ghasemi said the sanctions would backfire and work against the US and that "many countries from Europe to Russia and China have opposed the sanctions."

_________

Read more:

'I won't survive': Iranians reel from sanctions

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Iranian oil tankers 'go dark' before renewed US sanctions

_________

Britain said on Monday it regretted the decision to reimpose sanctions on Iran. "We continue to believe that the Iran nuclear deal makes the world a safer place and our position remains that as long as Iran continues to meet its obligations under the deal by respecting strict limits on its nuclear activity, we will be committed to it too," Prime Minister Theresa May's spokesman said.

Similarly, China also expressed its regret, but said it would continue to uphold the nuclear deal Beijing agreed to as a permanent member of the United Nations Security Council. Foreign Ministry spokeswoman Hua Chunying said the international community objects to unilateral sanctions like these.

Meanwhile in Israel Defence Minister Avigdor Lieberman called sanctions the "change the Middle East has been waiting for."

Israel has been a fierce opponent of the 2015 nuclear deal, saying it didn't rein in Iran's regional military activities.

Back in Iran civilians are already reeling from the sanctions, with some business owners saying their sales have dropped 90 per cent since May and a massive brain drain is in act among younger generations.

The hopes of Iranians who endured a decade of sanctions and looked to the 2015 nuclear deal as a promise of better living standards have been dashed. Even before the measures took effect today, the national currency had lost about 70 percent of its value against the dollar.

Fifa World Cup Qatar 2022

First match: November 20
Final 16 round: December 3 to 6
Quarter-finals: December 9 and 10
Semi-finals: December 13 and 14
Final: December 18

The results of the first round are as follows:

Qais Saied (Independent): 18.4 per cent

Nabil Karoui (Qalb Tounes): 15.58 per cent

Abdelfattah Mourou (Ennahdha party): 12.88 per cent

Abdelkarim Zbidi (two-time defence minister backed by Nidaa Tounes party): 10.7 per cent

Youssef Chahed (former prime minister, leader of Long Live Tunisia): 7.3 per cent

The specs

Engine: 3.0 twin-turbo inline six-cylinder
Transmission: eight-speed
Power: 503hp
Torque: 600Nm
Price: from Dh400,000 (estimate)
On sale: now

Poacher

Director: Richie Mehta

Starring: Nimisha Sajayan, Roshan Mathew, Dibyendu Bhattacharya

Rating: 3/5

Dengue fever symptoms
  • High fever
  • Intense pain behind your eyes
  • Severe headache
  • Muscle and joint pains
  • Nausea
  • Vomiting
  • Swollen glands
  • Rash

If symptoms occur, they usually last for two-seven days

Company Profile

Company name: myZoi
Started: 2021
Founders: Syed Ali, Christian Buchholz, Shanawaz Rouf, Arsalan Siddiqui, Nabid Hassan
Based: UAE
Number of staff: 37
Investment: Initial undisclosed funding from SC Ventures; second round of funding totalling $14 million from a consortium of SBI, a Japanese VC firm, and SC Venture

Citizenship-by-investment programmes

United Kingdom

The UK offers three programmes for residency. The UK Overseas Business Representative Visa lets you open an overseas branch office of your existing company in the country at no extra investment. For the UK Tier 1 Innovator Visa, you are required to invest £50,000 (Dh238,000) into a business. You can also get a UK Tier 1 Investor Visa if you invest £2 million, £5m or £10m (the higher the investment, the sooner you obtain your permanent residency).

All UK residency visas get approved in 90 to 120 days and are valid for 3 years. After 3 years, the applicant can apply for extension of another 2 years. Once they have lived in the UK for a minimum of 6 months every year, they are eligible to apply for permanent residency (called Indefinite Leave to Remain). After one year of ILR, the applicant can apply for UK passport.

The Caribbean

Depending on the country, the investment amount starts from $100,000 (Dh367,250) and can go up to $400,000 in real estate. From the date of purchase, it will take between four to five months to receive a passport. 

Portugal

The investment amount ranges from €350,000 to €500,000 (Dh1.5m to Dh2.16m) in real estate. From the date of purchase, it will take a maximum of six months to receive a Golden Visa. Applicants can apply for permanent residency after five years and Portuguese citizenship after six years.

“Among European countries with residency programmes, Portugal has been the most popular because it offers the most cost-effective programme to eventually acquire citizenship of the European Union without ever residing in Portugal,” states Veronica Cotdemiey of Citizenship Invest.

Greece

The real estate investment threshold to acquire residency for Greece is €250,000, making it the cheapest real estate residency visa scheme in Europe. You can apply for residency in four months and citizenship after seven years.

Spain

The real estate investment threshold to acquire residency for Spain is €500,000. You can apply for permanent residency after five years and citizenship after 10 years. It is not necessary to live in Spain to retain and renew the residency visa permit.

Cyprus

Cyprus offers the quickest route to citizenship of a European country in only six months. An investment of €2m in real estate is required, making it the highest priced programme in Europe.

Malta

The Malta citizenship by investment programme is lengthy and investors are required to contribute sums as donations to the Maltese government. The applicant must either contribute at least €650,000 to the National Development & Social Fund. Spouses and children are required to contribute €25,000; unmarried children between 18 and 25 and dependent parents must contribute €50,000 each.

The second step is to make an investment in property of at least €350,000 or enter a property rental contract for at least €16,000 per annum for five years. The third step is to invest at least €150,000 in bonds or shares approved by the Maltese government to be kept for at least five years.

Candidates must commit to a minimum physical presence in Malta before citizenship is granted. While you get residency in two months, you can apply for citizenship after a year.

Egypt 

A one-year residency permit can be bought if you purchase property in Egypt worth $100,000. A three-year residency is available for those who invest $200,000 in property, and five years for those who purchase property worth $400,000.

Source: Citizenship Invest and Aqua Properties

Under 19 World Cup

Group A: India, Japan, New Zealand, Sri Lanka

Group B: Australia, England, Nigeria, West Indies

Group C: Bangladesh, Pakistan, Scotland, Zimbabwe

Group D: Afghanistan, Canada, South Africa, UAE

 

UAE fixtures

Saturday, January 18, v Canada

Wednesday, January 22, v Afghanistan

Saturday, January 25, v South Africa

Company Profile

Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices

EGYPT SQUAD

Goalkeepers: Ahmed El Shennawy, Mohamed El Shennawy, Mohamed Abou-Gabal, Mahmoud Abdel Rehem "Genesh"
Defenders: Ahmed Elmohamady, Ahmed Hegazi, Omar Gaber, Ali Gazal, Ayman Ahsraf, Mahmoud Hamdy, Baher Elmohamady, Ahmed Ayman Mansour, Mahmoud Alaa, Ahmed Abou-Elfotouh
Midfielders: Walid Soliman, Abdallah El Said, Mohamed Elneny, Tarek Hamed, Mahmoud “Trezeguet” Hassan, Amr Warda, Nabil Emad
Forwards: Ahmed Ali, Mohamed Salah, Marwan Mohsen, Ahmed "Kouka" Hassan.

Shubh Mangal Saavdhan
Directed by: RS Prasanna
Starring: Ayushmann Khurrana, Bhumi Pednekar

Company Profile

Company name: Cargoz
Date started: January 2022
Founders: Premlal Pullisserry and Lijo Antony
Based: Dubai
Number of staff: 30
Investment stage: Seed

Herc's Adventures

Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5

5 of the most-popular Airbnb locations in Dubai

Bobby Grudziecki, chief operating officer of Frank Porter, identifies the five most popular areas in Dubai for those looking to make the most out of their properties and the rates owners can secure:

• Dubai Marina

The Marina and Jumeirah Beach Residence are popular locations, says Mr Grudziecki, due to their closeness to the beach, restaurants and hotels.

Frank Porter’s average Airbnb rent:
One bedroom: Dh482 to Dh739 
Two bedroom: Dh627 to Dh960 
Three bedroom: Dh721 to Dh1,104

• Downtown

Within walking distance of the Dubai Mall, Burj Khalifa and the famous fountains, this location combines business and leisure.  “Sure it’s for tourists,” says Mr Grudziecki. “Though Downtown [still caters to business people] because it’s close to Dubai International Financial Centre."

Frank Porter’s average Airbnb rent:
One bedroom: Dh497 to Dh772
Two bedroom: Dh646 to Dh1,003
Three bedroom: Dh743 to Dh1,154

• City Walk

The rising star of the Dubai property market, this area is lined with pristine sidewalks, boutiques and cafes and close to the new entertainment venue Coca Cola Arena.  “Downtown and Marina are pretty much the same prices,” Mr Grudziecki says, “but City Walk is higher.”

Frank Porter’s average Airbnb rent:
One bedroom: Dh524 to Dh809 
Two bedroom: Dh682 to Dh1,052 
Three bedroom: Dh784 to Dh1,210 

• Jumeirah Lake Towers

Dubai Marina’s little brother JLT resides on the other side of Sheikh Zayed road but is still close enough to beachside outlets and attractions. The big selling point for Airbnb renters, however, is that “it’s cheaper than Dubai Marina”, Mr Grudziecki says.

Frank Porter’s average Airbnb rent:
One bedroom: Dh422 to Dh629 
Two bedroom: Dh549 to Dh818 
Three bedroom: Dh631 to Dh941

• Palm Jumeirah

Palm Jumeirah's proximity to luxury resorts is attractive, especially for big families, says Mr Grudziecki, as Airbnb renters can secure competitive rates on one of the world’s most famous tourist destinations.

Frank Porter’s average Airbnb rent:
One bedroom: Dh503 to Dh770 
Two bedroom: Dh654 to Dh1,002 
Three bedroom: Dh752 to Dh1,152 

Abu Dhabi GP schedule

Friday: First practice - 1pm; Second practice - 5pm

Saturday: Final practice - 2pm; Qualifying - 5pm

Sunday: Etihad Airways Abu Dhabi Grand Prix (55 laps) - 5.10pm

FIGHT CARD

Anthony Joshua v Otto Wallin, 12 rounds, heavyweight

Deontay Wilder v Joseph Parker, 12 rounds, heavyweight

Dmitry Bivol v Lyndon Arthur, 12 rounds, light heavyweight

Daniel Dubois v Jarrell Miller, 12 rounds, heavyweight

Filip Hrgovic v Mark de Mori, 12 rounds, heavyweight 

Arslanbek Makhmudov v Agit Kabayel, 12 rounds, heavyweight 

Frank Sanchez v Junior Fa, 12 rounds, heavyweight 

Jai Opetaia v Ellis Zorro, 12 rounds, cruiserweight

FULL RESULTS

Middleweight

Eslam Syaha (EGY) bt Robin Roos (SWE)

Welterweight

Alex da Silva (BRA) bt Bagyash Zharmamatov (KGZ)
Murodov Samandar (TJK) bt Lucas Sampaio (BRA)
Shakhban Alkhasov (RUS) bt Salamat Orozakunov (KGZ)
Khotamjon Boynazarov (UZB) bt Mikail Bayram (FRA)

Bantamweight
Jieleyisi Baergeng (CHN) bt Xavier Alaoui (CAN)

Flyweight
Rashid Vagabov (RUS) bt Lun Qui (CHN)
Yamato Fujita (JPN) bt Furkatbek Yokubov (UZB)
Aaron Aby (WLS) bt Joevincent So (PHI)

Catchweight 176lb
Mark Hulm (RSA) bt Erkin Darmenov (KAZ)

Catchweight 160lb
Rustam Serbiev (BEL) bt Anar Huseyinov (AZE)

Catchweight 150lb

Islam Reda (EGY) bt Ernie Braca (PHI)

Flyweight (women)
Baktygul Kurmanbekova (KGZ) bt Maria Eugenia Zbrun (ARG)