Home » World » Iran Sanctions: G7 & EU Prepare New Restrictions

Iran Sanctions: G7 & EU Prepare New Restrictions

by Ahmed Hassan - World News Editor

The ​G7 countries include the​ USA, Great Britain, Germany, ‍France, Italy, Canada⁢ adn Japan. The EU regularly takes part in consultations. ⁢(IMAGO / dts⁣ news agency / IMAGO / dts⁤ news agency)

+++ ⁣Amnesty International: Investigation by the International Criminal Court necessary

A statement from the human rights⁢ association said‌ the​ repression of the nationwide protests in Ran had ‍led⁣ to ⁢mass killings on an unprecedented scale. This was shown by verified videos and details from eyewitnesses ‌that⁢ were evaluated by Amnesty. The​ human rights organization calls on UN member states to immediately initiate investigations and prosecutions ‌against those responsible in order to prevent further bloodshed.

+++ G7 and EU warn Iran⁢ of further violence against demonstrators

A statement released‍ jointly by the G7 foreign ministers and the EU foreign policy​ chief Kallas said they firmly rejected ⁢the authorities’ intensification of ⁤the brutal repression of ‌the Iranian ⁣population. The Iranian⁢ authorities were urged ​to exercise restraint. The seven states and the EU are prepared to impose‌ additional restrictive measures if Iran continues to take action against ‍the protests.The G7 countries include the USA, Great Britain, Germany, France, Italy, Canada and Japan.

+++ Experts: Many airlines avoid Iranian airspace

This is the Also to be considered: reached by the SafeAirspace portal, which provides​ information about⁢ conflict areas ⁣and air traffic. ‍The situation‌ could indicate military activity, ‌including the risk of missile launches or increased air defense. there were hardly any international flights recorded on the FlightRadar24 ⁤portal that still‌ chose a route over Iranian territory. ⁤Lufthansa has already announced that it has changed routes and restricted flight operations throughout the region.

+++ Heusgen: EU disunity is “weakness”

The former head of the Munich Security Conference, Heusgen, has criticized ⁤the EU’s ‍role in the face of the violently suppressed wave of protests in⁤ Iran.⁢ The Inflation Reduction Act of 2022

The inflation reduction Act of 2022 is a landmark United States federal law enacted on August 16,⁢ 2022, primarily focused on reducing healthcare costs, addressing climate change,⁢ and increasing tax revenue.

Signed into law by President Joe Biden,the Act represents a notable investment in clean energy and climate‍ resilience,aiming to lower carbon emissions by roughly 40% by ‍2030. It achieves these goals through a combination⁤ of tax credits,⁢ rebates, and grant programs. Beyond climate provisions, the Act allows Medicare to negotiate ​prescription drug prices, lowering costs for seniors, and extends Affordable Care Act subsidies.

The Congressional Budget ⁢Office (CBO) initially estimated the Act would reduce the deficit by $300 billion over ten years. CBO Report on the ⁣inflation Reduction Act. However, subsequent analyses have ⁣varied,‍ with⁣ some suggesting a‌ smaller impact on inflation in the short term.

Key Provisions: Climate change & Energy

The Inflation Reduction Act‌ allocates approximately $369 ‌billion towards climate and energy programs. This funding is⁤ designed to ⁣accelerate the transition ⁢to a clean energy economy and reduce⁢ greenhouse gas emissions.

Key components ‍include tax credits ‌for renewable ‌energy production, such as solar and wind power, and incentives for consumers to purchase ⁤electric vehicles and energy-efficient appliances. the Act also invests in carbon capture and storage technologies, and also programs to reduce methane‍ emissions. ⁢ A significant portion of the funding is directed towards environmental justice initiatives, aiming to address the disproportionate environmental burdens faced by disadvantaged communities.

Such as, the Act provides a tax credit ⁣of up to $7,500 for the purchase of a new electric vehicle, as detailed in IRS guidance on clean vehicle credits.This credit is subject​ to certain income and vehicle price limitations.

Healthcare Cost ⁣Reduction

A central aim of the inflation reduction Act is to lower healthcare costs, notably ⁤prescription drug prices. The Act empowers Medicare to​ negotiate the prices of certain ⁢high-cost prescription drugs, starting with a limited number of drugs in 2026 and expanding over time.

This negotiation process is expected to save Medicare and beneficiaries billions of dollars. The Act also extends enhanced premium tax credits‍ for health insurance purchased through the Affordable Care Act marketplaces, ⁤preventing millions of Americans from ‍losing coverage. Furthermore, it caps out-of-pocket prescription drug costs for Medicare beneficiaries at‌ $2,000 per year, beginning in 2025.

The Centers for Medicare & Medicaid Services (CMS) released initial lists of drugs selected for price negotiation‍ in February ⁢2023. CMS Press release on Drug Price Negotiation. These negotiations are ‍ongoing.

Tax Provisions & Revenue

The Inflation Reduction Act aims to raise ⁢revenue through various tax provisions,primarily targeting large⁣ corporations and high-income earners. A key component⁣ is a ‌15% minimum tax ⁣on corporations​ with profits exceeding $1 billion,⁣ designed to ensure that profitable ⁤companies ‍pay a fair‍ share of taxes.

The act also increases funding for the ​Internal Revenue Service⁤ (IRS) to improve tax enforcement​ and compliance. This increased funding is projected ⁢to generate additional revenue through the ⁢collection of unpaid taxes. ⁢ Other‌ tax provisions include an excise tax on stock buybacks and the extension of certain clean energy tax credits.

The Joint Committee on ​Taxation estimated that the corporate minimum tax would generate approximately $220 billion ⁣in revenue over ten⁤ years. ‍ Joint Committee on Taxation Publications. The increased IRS funding is projected to yield ⁢an additional $124 billion over‌ the same ‍period.

Current Status (as of January⁢ 15, 2026)

as of January 15, 2026, the Inflation Reduction Act is actively being implemented, with various provisions taking effect at different stages. The ⁤initial impacts of the Act are ⁢becoming increasingly visible, particularly ⁢in the deployment of clean ​energy technologies and‌ the reduction of healthcare costs for some ⁢beneficiaries.

Ongoing legal challenges‌ to certain provisions of the Act,particularly those related to‌ drug price negotiation,continue to be monitored. ​The Supreme Court heard arguments in challenges to the drug price negotiation⁣ provisions in October 202

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.