GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
1-min read

Trump Restores All US Sanctions on Iran Previously Lifted Under 2015 Nuclear Deal

The White House had previously said that the sanctions will remain until Iran agrees to meet the US' demands that include ending military engagement in Syria, a complete halt in its nuclear and ballistic missile development and ending 'its support for terrorism'.

News18.com

Updated:November 2, 2018, 10:07 PM IST
facebookTwittergoogleskypewhatsapp
Trump Restores All US Sanctions on Iran Previously Lifted Under 2015 Nuclear Deal
File image of US President Donald Trump. (Reuters)
Loading...
Washington: The Trump administration has announced return of all US sanctions on Iran that were lifted under 2015 nuclear deal. The strategy is meant to cripple Iran’s oil-dependent economy and force Tehran to quash not only its nuclear ambitions but this time, its ballistic missile programme and its influence in Syria.

In response to the reimposition of the U.S. sanctions on the country's vital oil and financial sectors, Iran reasserted on Friday that it had no concerns over the matter.

"America will not be able to carry out any measure against our great and brave nation ... We have the knowledge and the capability to manage the country's economic affairs," Iran's Foreign Ministry spokesman Bahram Qasemi told state TV.

The United States had already restored few of its sanctions on the Islamic Republic targeting the financial transactions involving U.S. dollars, Iran's automotive sector and the purchase of commercial aeroplanes and metals, including gold. This is the second batch of penalties reimposed on Iran.

"The possibility of America being able to achieve its economic goals through these sanctions is very remote and there is certainly no possibility that it will attain its political goals through such sanctions," Qasemi said.

"The new US sanctions will mostly have psychological effects."

Earlier in May, shortly after US President Donald Trump had announced that he would reimpose sanctions on Iran, the State Department began telling countries around the world that the clock was ticking for them to cut oil purchases from the Islamic Republic to zero.

Iran's biggest oil customers, all in Asia, have been seeking sanctions waivers to allow them to still buy some of its oil and Trump had reportedly agreed to grant waivers to eight countries, including close allies India, South Korea and Japan.

The White House had previously said that the sanctions will remain until Iran agrees to meet the US' demands that include ending military engagement in Syria, a complete halt in its nuclear and ballistic missile development and ending 'its support for terrorism'.

(With agency inputs)
| Edited by: Ahona Sengupta
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp

Live TV

Loading...
Loading...