President Trump has reinstated sanctions against Iran that had been lifted by former President Barack Obama.
According to Newsmax:
“The Trump administration’s tough new sanctions on Iran took effect on Monday but eight major importers of Iranian oil were spared from immediate penalties.
The sanctions target Iran’s energy, financial and shipping sectors and are aimed at crippling the country’s economy following President Donald Trump’s withdrawal from the 2015 nuclear deal. The measures restore all the U.S. sanctions that had been lifted under the accord that gave Iran billions of dollars in sanctions relief in exchange for curbs on its nuclear program.
The sanctions freeze any assets that those targeted have in U.S. jurisdictions and bar Americans from doing business with them. They will also affect non-Iranian companies that deal with sanctioned Iranian firms and officials.
In what the U.S. said was the largest-single sanctions designation, the Treasury imposed penalties on more than 700 Iranian and Iranian-linked individuals, entities, aircraft and vessels. The move brought to more than 900 the number of Iran-related targets sanctioned by the Trump administration in less than two years.”