US announces first round of Iran sanctions

WASHINGTON: The US on Monday announced the reimposition of the first set of trade sanctions against Iran, aimed at forcing Tehran to renegotiate the 2015 nuclear deal that President Donald Trump walked out of in May.

The curbs, that go into effect on Tuesday, will impact Iran’s automotive sector, trade in precious metals such as gold, and will prohibit it from using the US dollar — the common currency for international trade.

Announcing the sanctions, Trump said: “As we continue

The JCPOA, a horrible, onesided 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. DONALD TRUMP, US President

applying maximum economic pressure on the Iranian regime, I remain open to reaching a more comprehensive deal that addresses the full range of the regime’s malign activities, including its ballistic missile program and its support for terrorism. The United States welcomes the partnership of likeminded nations in these efforts.”

The next round of sanctions go into effect in November and that will hit Iran’s ports and crude oil exports. Those curbs will impact India directly, forcing it curtail and cease buying crude from its third largest supplier under the threat of secondary — though unintended — sanctions.

New Delhi has sought a waiver, citing not only its oil imports but also the strategic importance of the Chabahar port, which allows India access to Afghanistan. US officials have indicated condition-based waivers might be considered on a caseto-case basis but there has been no announcement yet.

There was no response from Iran to the sanctions at the time of going to print. President Hassan Rouhani was expected to speak later in the day.

However, the other signatories of the JCPOA have said they intend to continue with the agreement. The EU, Germany, France and the UK said in statement the JCPOA is working and is “crucial” for peace in Europe.