The reimposition is part of a broader push by US President Donald Trump sanctions against Iran. In order to, force Iran to curtail its nuclear and missile programs and to support proxy forces in Yemen, Syria, Lebanon and other parts of the Middle East.
The United States reimposed sanctions against Iran, economic sanctions and tightened sanctions on Iran’s oil, banking and transport sectors after the Trump administration pulled out of the 2015 nuclear deal and bowed more moves to pressure Tehran.
What are the sanctions against Iran?
The US sanctions include various sectors;
- industrial sectors
- notably the oil sector
Which is considered as the main source of income for foreign currencies needed by Iran.
The US sanctions:
- Iranian government purchases of US currency (dollar)
- Iran’s trade in gold and other precious metals
- Also, Graphite metals, aluminum, iron, and coal and computer software used in industry
- Remittances in Iranian rials
- Activities related to any financial measures in order to raise funds related to Iran’s sovereign debt.
- As well as, the automotive sector in Iran
- Iranian port operators, energy, shipping, and shipbuilding sectors.
- Remittances related to Iranian oil.
- Eventually, Remittances and financial transactions of foreign institutions with the Central Bank of Iran.
What are the US sanctions against Iran banks?
The sanctions against Iran include 50 banks and affiliated entities, over 200 people and a ship in the cargo sector, and also targeting Iran Air and over 65 of its aircraft.
As well as, 25 Iranian banks blacklisted, prompting the Brussels-based SWIFT system to stop dealing with them, adding to further obstacles to Iran’s trade with the world.
The US sanctions against Iran nuclear deals:
So, The reimpose sanctions lifted under the nuclear deal negotiated by the administration of former US President and five other world powers.
Which concluded in 2015 and add 300 new classifications in the sectors of;
- banks in Iran
So, the US sanctions allow trade in humanitarian goods such as food and medicine. But measures imposed on banks and trade restrictions could increase the cost of such goods.
Why does the United States impose these sanctions?
“The Treasury’s imposition sanctions against Iran of unprecedented financial pressure on Iran should make it clear to the Iranian regime. So, it will face increased financial isolation and economic stagnation to change its destabilizing activities,” Treasury Secretary Stephen Mnuchin said in a statement.