The U.S. is reimposing a raft of sanctions on Iran after midnight Monday, as the Trump administration seeks to ratchet up pressure on Tehran.
The U.S. had agreed to relax sanctions on Iran under the 2015 nuclear agreement, but President Donald Trump abandoned the deal back in May. The administration is now pursuing a two-pronged sanctions strategy, with the first round of sanctions snapping back at a minute after midnight. Sanctions on Iran’s oil CLU8, -0.43%LCOV8, -0.42% exports and energy industry will go back into effect after Nov. 4, according to a senior administration official.
Among the first tranche of sanctions are bans on the sale or transfer to or from Iran of graphite and metals such as aluminum; bans on the export of Iranian carpets and food such as pistachios to the U.S.; and a prohibition on trading of Iranian goldGCZ8, -0.37%.
Trump has pressured Iran to rein in its nuclear program. A White House statement said Trump was reimposing sanctions lifted under the “horrible” Iran deal. The U.S. accuses Iran of sponsoring terrorism and destabilizing the Middle East.
In announcing the sanctions, Trump said the U.S. “urge[s] all nations to take such steps to make clear that the Iranian regime faces a choice: either change its threatening, destabilizing behavior and reintegrate with the global economy, or continue down a path of economic isolation.”
Trump has said he’s willing to meet President Hassan Rouhani without preconditions. A senior official reiterated on Monday that Trump would meet with the Iranian leadership at any time.