Taking a tough stand against Iran, US President Donald Trump has reimposed sanctions on Iran, which were lifted as part of the 2015 Iranian nuclear deal.
However, Trump said he remains open to forging a new “more comprehensive” deal with the Islamic Republic.
In May, Trump had announced to withdraw from the Iranian nuclear deal. The reimposition of sanctions on Iran will have major impact on countries like India, with which it has traditional and historic trade relationship.
“Today, the US 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),” Trump said. 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 US 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,” said the US president.
At the same time, Trump said he remains open to reaching a “more comprehensive deal” that addresses the full range of the Iranian regime’s malign activities, including its ballistic missile programme and its support for terrorism.