President Donald Trump announces his intention to withdraw from the Iran nuclear agreement during a statement in the Diplomatic Room at the White House in Washington in May.
The U.S. is reimposing a raft on 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, +1.30% LCOV8, +1.00% exports and energy sector industry will go back into effect after Nov. 4, according to a senior administration official.
Among the first tranche of sanctions are blocking the sale or transfer to or from Iran of graphite and metals such as aluminum; banning the export of Iranian carpets and food such as pistachios to the U.S.; and prohibiting trading of Iranian gold GCZ8, -0.38% .
Trump has pressured Iran to rein in its nuclear program, and last month tweeted an all-caps warning to Tehran never to threaten the U.S.
Trump Today: President says he’s willing to meet Iran’s leader without preconditions.
Yet the president has also 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.
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