Monday 17 December 2018
 
»
 
»
CURBS TARGET INDUSTRIES

Trump reimposes sanctions on Iran

WASHINGTON, August 7, 2018

US President Donald Trump has reimposed major financial sanctions on Iran, targeting currency purchases and key industries.
 
The move comes three months after he pulled US out of the 2015 nuclear agreement between Tehran and world powers.
 
Trump repeated his longstanding position that the 2015 accord which provided Tehran with relief from sanctions in return for curbs on its nuclear programme was “a horrible, one-sided deal."
 
"The Iranian regime faces a choice: either change its threatening, destabilising behaviour and reintegrate with the global economy or continue down a path of economic isolation,” Trump said in the statement released by the White House.
 
The US measures taking effect on August 7 target Iran's automotive sector and renowned carpet-making industry, as well as its trade in gold and other metals. US officials said the Iranian government would also no longer be able to buy US dollars.
 
Trump said the US policy is to levy maximum economic pressure on the country, while hoping for new negotiations between Iran and the US that would result in another, more wide-ranging accord.



Tags: Iran | US | Trump |

More Finance & Capital Market Stories

calendarCalendar of Events

Ads