US fully reimposes sanctions against Iran's oil, finance and shipping sectors
Updated 20:40, 08-Nov-2018
The US reimposed sanctions on Iran's energy, finance and transportation sectors on Monday after the Trump administration withdrew from the 2015 Iran nuclear deal, and vowed further action to pressure Tehran.
This round of sanction targets over 700 individuals, entities, aircraft and vessels, 50 Iranian banks and subsidiaries, more than 200 persons and vessels in shipping sector, and targets Iran Air, as well as more than 65 of its aircraft.
The Trump administration has also added the atomic energy organization of Iran, its 23 subsidiaries and significant associated individuals to the sanction list.
"Treasury's imposition of unprecedented financial pressure on Iran should make clear to the Iranian regime that they will face mounting financial isolation and economic stagnation until they fundamentally change their destabilizing behavior,” said US Treasury Secretary Steven Mnuchin.
US Secretary of State Mike Pompeo vows US will be "relentless" in pressuring Iran.
Eight economies will temporarily enjoy waivers, including Chinese mainland, China's Taiwan, India, S. Korea, Japan, Greece, Italy and Turkey.
Earlier the same day, Iran's President Hassan Rouhani said they will "proudly bypass the illegal, unjust sanctions" go against the international regulations.
The European Union (EU), France, Germany and Britain said they regretted the US decision and would seek to protect European companies doing legitimate business with Tehran the capital city of Iran, according to Reuters.
Israeli Prime Minister Benjamin Netanyahu, however, applauded the new wave of US sanctions, noting that "today is a historic day" and the US is beginning to curb Iran's aggression.