In Davos, Iran’s Foreign Minister Says US Missile Sanctions ‘Illegal’

This will not be a small task, he said, adding that there are about 182,000 items of business regulation.

Soon after their release, President Obama announced measures to impose sanctions on no less than 11 individuals and companies that had been found to be flouting the curbs laid down by the United Nations. He also noted that Iran proved a year ago that diplomacy worked, and the reaching of Iran deal was the best example of this.

Despite lingering tensions between Iran and the United States, he said, “the United States can take steps to overcome this mistrust”, such as through implementation of the nuclear agreement.

This agreement with Iran is historic, but there remains a serious issue that divides Washington and Tehran, namely Iran’s attempt to develop “ballistic” missiles that are capable of delivering nuclear warheads, assumedly towards Middle East targets.

Chief Cabinet Secretary Yoshihide Suga told reporters that the government would cancel bans on Japanese investment in both exports to Iran and in oil and gas-related business.

But the nuclear deal did represent the victory of diplomacy over war. Democratic front runner Hillary Clinton supports it, but through the prism of US dominance that Tehran finds deeply provocative.

He didn’t specify, but the USA has been a big military supporter of Israel and Iranian rivals Saudi Arabia and Iraq. Washington, he said, suffers from an “addiction to pressure, addiction to coercion, addiction to sanctions”.

There is no doubt that Barack Obama, the American president who is serving his last year in office, merits all the praise he received since paving the way this week for allowing Iran to join the global economy after the worldwide sanctions have been lifted in exchange for Tehran abandoning its nuclear ambitions for at least 10 years.

Critics of the move, which also applies to Iraq, Syria and Sudan, say it will discourage business travel to Iran and cause complications for dual nationals, who are likely to be among the first attracted to doing business in Iran.

Kyodo reported that the agreement will see Japanese companies join United States and European outfits in racing to tap into the country’s commercial potential, with everything from cars to oil expected to flow between the two countries.

USA firms will still be subject to a trade embargo that will limit their ability to move into Iran. They violate basic principles. By extension, investors across all sectors might struggle to access the financing options needed to make significant investments. I mean, isn’t Iran entitled to do that?

“I believe they will, but it will take time…”