USA reimposes sanctions on Iran

USA reimposes sanctions on Iran

USA reimposes sanctions on Iran

"He will meet with Iranian leadership at anytime to discuss a real, comprehensive deal that will contain their regional ambitions, will end their malign behaviour and deny them any paths to a nuclear weapon", the official said.

With the USA administration taking a hard line on granting waivers from sanctions, many major companies from the oil and gas industry to auto manufacturers and consumer goods firms have already announced that they are quitting the country. "The pressure will not relent while the negotiations go on", said Bolton, one of the administration's main hawks on Iran.

The U.S. resumed sanctions targeting Iran's automotive sector as well as gold and other key metals on Monday.

State and Treasury officials have been traveling around the world to coordinate the pressure campaign, and have visited 20 countries to date, the second official said.

He also said Tehran expects the European countries to bring forward a practical package of proposals to salvage Iranian nuclear deal, also known as JCPOA, after the US pull-out in May.

Trump has rejected pleas from U.S. allies not to unilaterally drop out of the deal.

They pledged to work on preserving financial flows and Iran's oil and gas exports - a lifeline of its economy.

But the renewed hostility has already sparked a run on Iran's currency, which has lost around half its value since Trump's announcement.

The official, speaking to reporters on a conference call with others from the administration, said that Trump remains open to meeting Iran's leaders without preconditions.

Trump said he supported a new deal with Iran that actually addressed its long-standing financial backing for terrorists as well as its missile program.

"We deeply regret the re-imposition of sanctions by the United States", said European Union diplomatic chief Federica Mogherini in a statement jointly signed with the foreign ministers of Britain, France and Germany. "But talks need honesty", he added.

For his part, Rouhani praised Europe for "resisting the Americans" in its call "to join the regime of sanctions".

The nuclear deal lifted worldwide sanctions in return for Iran limiting its nuclear program and allowing regular inspections.

The European Union on Monday said that new measures are ready to take effect to protect European businesses from the impact of US sanctions on Iran.

This is why the European Union's updated Blocking Statute enters into force on 7 August to protect EU companies doing legitimate business with Iran from the impact of United States extra-territorial sanctions.

According to S&P Global Platts, Iranian oil production is already under pressure because of approaching sanctions.

FILE PHOTO: A man walks past an anti-U.S. mural in Tehran, Iran October 13, 2017.

With senior religious authorities calling for a crackdown on graft, the judiciary said on Sunday it had arrested the vice-governor of the central bank in charge of foreign exchange, Ahmad Araghchi, along with a government clerk and four currency brokers.

Iran agreed to limit its uranium enrichment programme in return for the lifting of crippling Western sanctions. He said it left the Iranian government flush with cash to use to fuel conflict in the Middle East.

Questioned about the sharp devaluation of Iranian currency in recent months and its threat to Iran's economy, Rouhani blamed "chronic problems" with the nation's banking system "from before the revolution".

Trump warned on Monday of "severe consequences" for people or entities that fail to wind down economic activities with Iran.

USA officials also took a combative stance on countries like China and India - two major importers of Iranian oil - as they said the target would be "zero" oil being sold by Iran and would enforce their sanctions regime "aggressively".

The EU voiced concern in a joint statement with the foreign ministers of France, Germany and Britain that said: "We deeply regret the reimposition of sanctions by the USA".

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