Trump administration officially restores Iran sanctions

New U.S. Sanctions Against Iran Go Into Effect

The United States reimposed oil and financial sanctions against Iran on Monday, significantly turning up the pressure on Tehran in order to curb its missile and nuclear programs and counter its growing military and political influence in the Middle East. "It can either do an 180-degree turn ... and act like a normal country, or it can see its economy crumble". In addition to hundreds of Obama-era sanctions being reinstated, the measures kicking in on Monday also expand the range of targets for U.S. punishment.

"I think - and I'm echoing the (UK) government's position - this agreement was worth having, it's very important at preventing nuclear proliferation and, of course, if you want Iran to negotiate, to behave reasonably, you're not going to do that by tearing up agreements that are made in good faith".

Many of these companies were initially hit by Obama-era sanctions that were subsequently lifted when the USA entered the Iran nuclear deal in 2015.

"We are intent on making sure the Iranian regime stops siphoning its hard currency reserves into corrupt investments and the hands of terrorists", Mnuchin said in a statement.

Sanctions were slapped against 700 individuals, entities, financial, shipping, aviation and energy sectors in Iran, including 50 Iranian banks and their branches at home and overseas, Iran Air and the Atomic Energy Organization of Iran, the US Department of Treasury announced yesterday.

In reaction, a senior Iranian official who declined to be identified said Tehran was not concerned about the sanctions and will not yield to pressure to change its policies.

Washington has agreed to let eight countries keep buying Iranian oil.

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But, approximately 12 hours after Hannity posted his tweet, he was campaigning on stage with Trump . Hannity himself had tweeted: "To be clear, I will not be on stage campaigning with the president".


In May, Trump exited Iran's 2015 nuclear deal with six powers and Washington reimposed first round of sanctions on Iran in August.

The other parties to the deal - Britain, China, France, Germany, and Russian Federation, along with the European Union - say that the accord remains in force and is working, noting that United Nations inspectors report that Iran has complied.

The United States again restricted Iran's oil and financial industry on Monday.

He added, "We have iron will to counter sanctions".

Pompeo listed eight places that will enjoy temporary waivers from a ban on all oil transactions with Iran: China, Taiwan, India, Italy, Greece, Japan, South Korea and Turkey.

"These sanctions hit at the core areas of Iran's economy", Pompeo told reporters on Friday. But the official said that because a stronger oil supply is anticipated for next year, "that will allow us to accelerate the path to zero" imports from Iran.

Rouhani added, "We are in the economic war situation".

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"We have also told the U.S. that we can not accept non-allies to the United States - such as China - benefitting from the ally's (South Korea's) sacrifice", the official said.

President Donald Trump pulled out of the deal, called the Joint Comprehensive Plan of Action, in May, and Monday was the deadline to reimpose its sanctions.

But they were opposed by other signatories to the 2015 nuclear deal - Britain, France, Russia, China, Germany and the EU.

FALLING EXPORTS Iran said it would ignore the sanctions.

Iran will continue to sell its crude oil in the global market despite "cruel" US new sanctions, Rouhani said.

Amid ample supply, top crude exporter Saudi Arabia has cut its December price for its Arab Light grade for Asian customers by 10 cents per barrel versus November to a premium of $1.60 a barrel to the Oman/Dubai average, state oil company Saudi Aramco said on Monday.

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