Secretary, please, go ahead.
SECRETARY POMPEO: Thank you, Heather. Good morning, everyone, and thank you for joining the call. Earlier this year, President Trump withdrew from
Today, Secretary Mnuchin and I will discuss one of the many lines of effort to achieve these fundamental
On November 5th, the
Let me put this in context for you. The Obama administration issued SREs to 20 countries multiple times between 2012 and 2015. We will have issued, if our negotiations are completed, eight and have made it clear that they are
Our laser-focused approach is succeeding in keeping prices stable with a benchmark Brent price right about where it was in May of 2018 when we withdrew from the JCPOA. Not only is this good for American consumers and the
This massive reduction since May of
The State Department closed the
This administration is treating condensate the same as crude since
And starting today, Iran will have
These new sanctions will accelerate the highly successful effects of our sanctions that have already occurred. The maximum pressure we imposed has caused the rial to drop dramatically, Rouhani’s cabinet is in disarray, and the Iranian people are raising their
On that note, our actions today are targeted at the regime, not the people of Iran, who have suffered grievously under this regime. It’s why we have and will maintain many humanitarian exemptions to our sanctions
I will now turn the call over to Secretary Mnuchin.
SECRETARY MNUCHIN: Thank you very much. Since the beginning of the Trump administration, the Treasury Department has been committed to putting a stop to
The 180-day wind-down period ends at 11:59 p.m. Eastern
I want to make a couple of comments on the SWIFT messaging systems since I’ve received lots of questions about this over the last few weeks. So I’d like to make four points. Number one, SWIFT is no different than any other entity. Number two,
MS NAUERT: Thank you, sirs. Why don’t we go ahead, take our
Q: Thank you, Heather. Both – either or both of you, on SWIFT, there are a lot of complaints among the President’s allies in Congress that this does not go far enough, and that without designating –
MS NAUERT: Next question, we’ll go to Nick Wadhams from Bloomberg.
MS NAUERT: Pardon me?
MS NAUERT: Next question, Mike Warren from the Weekly Standard.
Q: Hi, gentlemen, thank you. I want to follow-up on Matt’s questions about SWIFT. Secretary Mnuchin, you said that certain financial institutions in Iran will be cut off
SECRETARY MNUCHIN: So again, let me comment on the first issue, which – that the list of banks, which will be substantially longer than last time, will be coming out over
MS NAUERT: Okay, thank you. Next question goes to Elise Labott from CNN.
Q: Thank you. The question is for both secretaries, but maybe from a different angle. Could you address the workaround that the Europeans are trying to
And then Secretary Pompeo,
SECRETARY MNUCHIN: I’ll comment on the Special Purpose Vehicle. I have no
SECRETARY POMPEO: And let me take the second part of that. We’ve been working closely with the Europeans on this set of issues. We’re very confident that our sanctions will be incredibly
QUESTION: Yeah, hi, thank you. One quick question that – just technically, which of the eight countries are getting these waivers? And then secondly, for Secretary Pompeo, you said in one of your interviews this week
SECRETARY POMPEO: Yes, thanks
MS NAUERT: Next question: Josh Rogin, Washington Post.
SECRETARY POMPEO: Thanks, thanks for the question. We are not allowing the continued
MS NAUERT: Final question to Arshad with Reuters, please.
Q: Two things. One, exactly how many financial institutions are going to be redesignated, i.e.
Secondly, you pointedly said that you were granting the exceptions to eight jurisdictions. Is one of those
SECRETARY POMPEO: Steven, you want to go first?
SECRETARY MNUCHIN: I’ll answer the first part. So the bank list will come out on Monday. Again, it will be more than
SECRETARY POMPEO: The second part of your question, we will provide the list of the eight
MS NAUERT: The final question, Carol Morello, Washington Post.
Q: Hi, thanks for doing this. Say in the past, the Iranians have blended their oil with foreign oil to evade sanctions, and there have already been
SECRETARY POMPEO: Thanks for the question. Make no mistake about it, the Iranians will do everything they can to
And I won’t speak to our
SECRETARY MNUCHIN: And I would just add to that that anybody that does facilitate those transactions will be subject to sanctions and will be added to the