Eli Ridder | CANADA
(71 Republic) – The United States said on Monday that President Donald Trump will reimposing sanctions on Iran that were lifted by Washington when the 2015 denuclearization deal was signed with Tehran under the Barack Obama administration.
The pre-deal sanctions will return on Tuesday, following a 90-day “wind down” period for business activities, with further sanctions coming after the administration’s secondary, 180-day period, a White House statement said.
The first wave of tariffs will be on Iranian mineral trade, economic transactions, and on the Iranian auto sector.
The second wave will target port operators and energy, shipping, gas industry and transactions between foreign banks and Iran’s Central Bank.
The foreign banks could include those from countries that are allied with the United States, putting those still signed on to the deal in a diplomatically awkward position as sanctions could affect trade with Iran.
Washington will also “relist hundreds of individuals entities, vessels, and aircraft that were previously included on sanctions lists.”
“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,” Mr. Trump said in a statement Monday.
Trump pulled the U.S. from the Joint Comprehensive Plan of Action, or JCPOA, on May 8 of this year, a deal long criticized by the president.
The United States, United Kingdom, France, China, Russia and Germany, who make up the United Nations Security Council plus Germany, signed the July 2015 nuclear deal with Iran.
Trump’s predecessor Mr. Obama has strongly criticized the Republican Party President for leaving the landmark agreement.
Iran and the other five powers remain within the agreement, which many analysts say appears to be working in regards to curbing Iranian nuclear ambitions.
Economic protests have sprung up across Iran, according to various reports and social media footage.