First part of US sanctions against Iran comes into effect on Monday

 
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6 August
11:54

First part of US sanctions against Iran comes into effect on Monday

The US authorities are to resume the first part of sanctions against Iran following Washington’s withdrawal from the Joint Comprehensive Plan of Action (JCPOA). The restrictions will cover the automotive sector, the purchase and sale of gold and key metals.

Sanctions are back

On May 8, US President Donald Trump announced his country’s withdrawal from JCPOA and promised not only to resume the old sanctions but also to introduce new ones against Iran

The US president called for signing a new deal with Tehran. Meanwhile, Washington put forward demands, which cannot be implemented.

US President Donald Trump sharply criticized the Iran nuclear deal, branding it as "one of the worst" in the history of the United States. He also accused Tehran of supporting terrorist groups in the region. Trump believes that maintaining the JCPOA on the Iranian nuclear program may trigger a nuclear arms race in the Middle East. Later, the US authorities said they were deploying a campaign of maximum economic and diplomatic pressure on Iran.

US State Department Director of Policy Planning Brian Hook said that the sanctions against Iran will be resumed in two stages - on August 6 and on November 4. It is expected that the first part of the restrictive measures will cover the automotive sector of Iran and the purchase and sale of gold and other key metals, and the remaining sanctions, which will be introduced by the end of autumn, will affect Iran's energy sector, oil-related deals, as well as transactions with the central Bank of Iran.

According to Hook, Washington’s "goal is to increase pressure on the Iranian regime by reducing to zero its revenue on crude oil sales." Hook noted that the US authorities are working on how to minimize the destabilization of the global market. He added that Washington is confident that there are sufficient opportunities to increase oil production.

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