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Iran demands US pay full compensation for sanctions damage

Created at 27 Aug · 7:06 AM1 source↑ Market-relevant
IN SHORT

Iran's Foreign Minister Abbas Araghchi stated that the U.S. bears international responsibility for damages caused by its unilateral sanctions and must provide full compensation, including restitution and reparations. He described the measures as an "economic terrorism campaign" unlawful under international law.

Key Numbers

60+entities, individuals, and vessels blacklisted in sanctions

Who's Involved

Abbas Araghchi
Iran's Foreign Minister demanding compensation for sanctions
Donald Trump
announced "the most crushing economic operation ever taken against any country"
Scott Bessent
US Treasury Secretary describing sanctions as "economic asphyxiation"
Iran demands US pay full compensation for sanctions damage

↳ Why This Matters

Iran's demand for compensation highlights the ongoing international dispute over U.S. sanctions and their impact, potentially escalating diplomatic tensions and legal challenges.

Key facts

  • Iran's Foreign Minister Abbas Araghchi stated the U.S. bears international responsibility for damages caused by its unilateral sanctions.
  • Araghchi demanded full compensation, including restitution and reparations, for material and moral damages.
  • He characterized the U.S. sanctions as an "economic terrorism campaign" unlawful under international law.
  • The Trump administration launched "Operation Economic Outcast," a broad sanctions campaign against Iran.
  • US Treasury Secretary Scott Bessent described the measures as "economic asphyxiation" of the Iranian government.

Iran's Foreign Minister Abbas Araghchi declared that the United States bears international responsibility for the damages inflicted by its unilateral sanctions and must provide full compensation, including restitution and reparations. Araghchi described the U.S. measures as an "economic terrorism campaign" carried out through unilateral coercive actions, which he asserted are unlawful under international law.

In messages to the UN and the Security Council, Araghchi stated that the Islamic Republic of Iran reserves its right to pursue accountability, compensation, and redress through all available means. He added that the U.S. campaign entails international responsibility and an obligation to compensate for all material and moral damages. Araghchi also indicated that the U.S. could face individual criminal responsibility for the consequences of these "unlawful and criminal acts" if proper legal actions are taken.

He urged the UN Security Council and member states to condemn and reject Washington's use of "unilateral coercive measures and secondary sanctions." Iran also called on countries not to recognize or implement such measures, and implored the U.S. to immediately halt coercive actions aimed at forcing third countries to alter legitimate economic relations. Araghchi requested the UN Secretary-General to assess and report on the humanitarian and human rights consequences of these sanctions.

These statements follow the Trump administration's launch of "Operation Economic Outcast," a sweeping sanctions campaign targeting key Iranian economic sectors, including aviation, shipping, gold, technology, and digital assets, blacklisting over 60 entities, individuals, and vessels. U.S. Treasury Secretary Scott Bessent described the objective as severing Iran's economic lifelines, calling the campaign the "economic asphyxiation" of the Iranian government.

Frequently asked questions

It is a sweeping sanctions campaign launched by the Trump administration aimed at further isolating Iran from the global financial system, targeting key economic sectors and blacklisting numerous entities and individuals.

Iran demands full compensation, including restitution and reparations, for all material and moral damages caused by what it describes as unlawful and criminal U.S. sanctions.

Iran considers unilateral coercive measures and secondary sanctions to be unlawful under international law and an "economic terrorism campaign."

What Happens Next

01Iran will continue to pursue accountability and compensation through available means.
02The UN Secretary-General is expected to assess and report on the humanitarian consequences of the sanctions.
03Further U.S. sanctions or actions against Iran may be implemented.

How It Developed

Iran's Foreign Minister Abbas Araghchi stated the U.S. bears international responsibility for damages caused by its unilateral sanctions.
Araghchi demanded the U.S. provide full compensation, including restitution and reparations, for material and moral damages.
He described the U.S. sanctions campaign as "economic terrorism" and unlawful under international law.
Araghchi urged the UN Security Council and member states to condemn and reject unilateral coercive measures and secondary sanctions.
The Trump administration launched "Operation Economic Outcast," a sanctions campaign targeting Iran's financial system.
US Treasury Secretary Scott Bessent stated the measures aim to sever Iran's economic lifelines.

Sources

T1
Iran's Araghchi says US owes 'full compensation' for damages caused by unilateral sanctionsMiddle East Eye
T2
Iran says US owes full compensation for damages caused by unilateral ...anews.com.tr
T2
US owes full compensation for damages caused by unilateral sanctions ...english.sun.mv

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