U.S. President Donald Trump has taken action to re-impose nuclear-related sanctions against Iran that were lifted in connection with the Joint Comprehensive Plan of Action (JCPOA) of July 14, 2015.
Mr Trump, in a statement on Monday, said: “These actions include re-imposing sanctions on Iran’s automotive sector and on its trade in gold and precious metals as well as sanctions related to the Iranian rial.
These measures will take effect on August 7, 2018.
The president said all remaining U.S. nuclear-related sanctions would resume effective November 5, 2018.
“These include sanctions targeting Iran’s energy sector, including petroleum-related transactions, as well as transactions by foreign financial institutions with the Central Bank of Iran,” he said.
JCPOA, known commonly as the Iran nuclear deal, is an agreement on the nuclear programme of Iran reached in Vienna on July 24, 2015 between Iran, the P5+1 (the five permanent members of the UN Security Council – China, France, Russia, United Kingdom, United States—plus Germany) and the European Union.
Mr Trump said the U.S. was fully committed to enforcing all of its sanctions, adding the country would work closely with nations conducting business with Iran to ensure complete compliance.
The president warned: “Individuals or entities that fail to wind down activities with Iran risk severe consequences.
“I am pleased that many international firms have already announced their intent to leave the Iranian market, and several countries have indicated that they will reduce or end imports of Iranian crude oil.
“We urge all nations to take such steps to make clear that 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”.
He said his actions, including signing of an Executive Order entitled “Reimposing Certain Sanctions with Respect to Iran” – were consistent with National Security Presidential Memorandum-11 of May 8, 2018, announcing the withdrawal of the United States from the JCPOA.
“The JCPOA, a horrible, one-sided deal, failed to achieve the fundamental objective of blocking all paths to an Iranian nuclear bomb, and it threw a lifeline of cash to a murderous dictatorship that has continued to spread bloodshed, violence, and chaos.
“Since the deal was reached, Iran’s aggression has only increased. The regime has used the windfall of newly accessible funds it received under the JCPOA to build nuclear-capable missiles, fund terrorism, and fuel conflict across the Middle East and beyond.
“To this day, Iran threatens the United States and our allies, undermines the international financial system, and supports terrorism and militant proxies around the world,” Trump said.
He said by exiting the JCPOA, the U.S was able to protect its national security by applying maximum economic pressure on the Iranian regime adding, to date, his administration had issued 17 rounds of Iran-related sanctions, designating 145 companies and individuals.
The U.S. leader said the re-imposition of nuclear-related sanctions through his actions further intensified pressure on Tehran to change its conduct.
He said as U.S. continued applying maximum economic pressure on the Iranian regime, he remained open to reaching a more comprehensive deal that addressed the full range of Iran’s malignant activities, including its ballistic missile programme and its support for terrorism.