U.S. Set To Impose New Sanctions On Iran

by on October 8, 2020

A Republican congressional aide has revealed that the United States (US) is set to impose fresh sanctions on Iran’s financial industry.

The is coming after the US last month said it triggered a “snap back,” or resumption, of virtually all UN sanctions on Iran.

Tensions between Washington and Tehran have soared since US President Donald Trump unilaterally withdrew in 2018 from the Iran nuclear deal struck by his predecessor.

In June this year, President Hassan Rouhani of Iran said his country was experiencing the toughest year because of US economic pressure and the coronavirus pandemic.

The sanctions reimposed by Trump has target everything from oil sales to shipping and financial activities.

While food, medicine and other humanitarian supplies are exempted, many foreign banks are already deterred from doing business with the Islamic Republic.

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