The U.S has re-imposed economic sanctions on Iran, as the Donald Trump administration withdraws the relief that the Barack Obama administration gave the Middle East nation as part of the landmark 2015 nuclear deal.
The US has vowed to rigorously enforce the sanctions in an effort to curb Iran’s malign activity in the Middle East and prevent the regime from developing nuclear weapons.
The sanctions are on Iran’s automotive sector, its trade in gold and precious metals as well as its currency, the Iranian rial.
Below is a statement issued by the White House on Monday:
Today, the United States is taking action to reimpose nuclear-related sanctions with respect to Iran that were lifted in connection with the Joint Comprehensive Plan of Action of July 14, 2015 (the “JCPOA”). These actions include reimposing sanctions on Iran’s automotive sector and on its trade in gold and precious metals, as well as sanctions related to the Iranian rial. These measures will take effect on August 7, 2018.
All remaining United States nuclear-related sanctions will resume effective November 5, 2018. These include sanctions targeting Iran’s energy sector, including petroleum-related transactions, as well as transactions by foreign financial institutions with the Central Bank of Iran.
The United States is fully committed to enforcing all of our sanctions, and we will work closely with nations conducting business with Iran to ensure complete compliance. Individuals or entities that fail to wind down activities with Iran risk severe consequences.
I am pleased that many international firms have already announced their intent to leave the Iranian market, and several countries have indicated that they will reduce or end imports of Iranian crude oil. We urge all nations to take such steps to make clear that the Iranian regime faces a choice: either change its threatening, destabilizing behavior and reintegrate with the global economy, or continue down a path of economic isolation.
My actions today – including my signing of an Executive Order entitled “Reimposing Certain Sanctions with Respect to Iran” – are consistent with National Security Presidential Memorandum-11 of May 8, 2018, announcing the withdrawal of the United States from the JCPOA.
The JCPOA, a horrible, one-sided deal, failed to achieve the fundamental objective of blocking all paths to an Iranian nuclear bomb, and it threw a lifeline of cash to a murderous dictatorship that has continued to spread bloodshed, violence, and chaos.
Since the deal was reached, Iran’s aggression has only increased. The regime has used the windfall of newly accessible funds it received under the JCPOA to build nuclear-capable missiles, fund terrorism, and fuel conflict across the Middle East and beyond.
To this day, Iran threatens the United States and our allies, undermines the international financial system, and supports terrorism and militant proxies around the world.
By exiting the JCPOA, the United States is able to protect its national security by applying maximum economic pressure on the Iranian regime. To date, my Administration has issued 17 rounds of Iran-related sanctions, designating 145 companies and individuals. Since my announcement on May 8 withdrawing the United States from the JCPOA, my Administration has sanctioned 38 Iran-related targets in six separate actions. Reimposition of nuclear-related sanctions through today’s actions further intensifies pressure on Tehran to change its conduct.
As we continue applying maximum economic pressure on the Iranian regime, I remain open to reaching a more comprehensive deal that addresses the full range of the regime’s malign activities, including its ballistic missile program and its support for terrorism. The United States welcomes the partnership of likeminded nations in these efforts.
The United States continues to stand with the long-suffering Iranian people, who are the rightful heirs to Iran’s rich heritage and the real victims of the regime’s policies. We look forward to the day when the people of Iran, and all people across the region, can prosper together in safety and peace.