The Palm Beach Post

MORE DETAILS

-

■ The latest: The White House on Monday moved to reimpose the first round of Iranian trade sanctions that had been suspended under the 2015 nuclear agreement, distancing the United States from every other country that signed the agreement and putting the accord’s future in jeopardy. The sanctions were to take effect at 12:01 a.m. today.

■ What it means: Iran will be prohibited from using U.S. dollars, the primary currency or internatio­nal financial transactio­ns and oil purchases. Trade in metals and sales of Iranian-made cars will be banned. Permits allowing the import of Iranian carpets and food, such as pistachios, will be revoked. So will licenses that have allowed Tehran to buy U.S. and European aircraft and parts — a restrictio­n that comes just days after Iran completed the acquisitio­n of five new commercial planes from Europe.

■ What’s next: The White House hopes the renewed sanctions will provide leverage over Tehran’s collapsing economy and bring Iranian leaders to the negotiatio­n table for a new nuclear treaty. Sanctions on petroleum are scheduled to be restored Nov. 4. U.S. officials have advised government­s around the world to begin winding down their purchases of Iranian oil, eventually to zero, to starve Tehran of its chief source of foreign income. Iran has already started talking about the need to return to a war footing with a “resistance” economy.

Newspapers in English

Newspapers from United States