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The United States is restoring the oil and economic sanctions imposed on Iran by intensifying pressure on Tehran to curb its nuclear and ballistic program and to cope with its military and political influence in the Middle East.
These sanctions were lifted after the 2015 international agreement that Iran had signed with the government of former President Barack Obama. In addition, Washington will add 300 new provisions against the oil, banking and insurance sector in Iran.
US President Donald Trub announced in May that his government was pulling out of the international treaty, which he described as "the worst ever signed". The other signatory countries – Britain, France, Germany, Russia and China – have declared that they will continue to adhere to it.
The details of the US sanctions will be announced at a press conference given by US Secretary of State Mike Pombeo and Finance Minister Stephen Manciun today at 8:30 pm (local time at 3:30 pm).
China, India, South Korea, Japan and Turkey – countries that import large quantities of Iranian oil – are among the eight states that should be exempted from sanctions in order not to destabilize oil prices gross.
These countries will deposit their Iranian oil payments into an escrow account, US officials said.
Washington pointed out that it would ensure an adequate supply of oil to the market with the help of its ally, Saudi Arabia.
The resumption of sanctions against Iran takes place a few hours before the midterm elections in the United States which will take place tomorrow Tuesday.
Speaking at a pre-election rally in Chinatown, Tennessee, on Sunday, Trab pointed out that the "maximum pressure" policy against Iran was working.
"Iran is a very different country since I came to the presidency," he said, adding, "They wanted to understand the whole Middle East, now they just want to survive."
Iran will continue to sell oil, defying US sanctions
Iran will continue to sell its oil by defying and violating the sanctions imposed on the country by the United States today, President of the Islamic Republic Hbadan Rohani said in televised talks on Iranian television.
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