Trump says his government is imposing sanctions on Iran’s iron, steel, aluminum and copper sectors. Wednesday’s announcement comes after Tehran said it will partially withdraw from a deal to curb its nuclear program.
Trump adds the new sanctions target Iran’s revenue from its foreign sales of industrial metals, which account for 10 percent of the country’s export economy.
The statement warns that Tehran can expect further actions unless it fundamentally alters its conduct.
Trump says that under the 2015 Iran nuclear deal, the country was free to engage in and sponsor terrorist networks, develop missiles, foment regional conflicts, unjustly detain US citizens and brutalize its own people.
The Treasury Department is urging corporations and individuals to completely stop dealing with Iran in the metal sector within 90 days. Trump says that is Tehran’s largest non-petroleum-related source of export revenue.
The new sanctions are expected to raise tensions between the two countries. But Trump says he looks forward to meeting with Iran’s leaders someday to work out an agreement.
President Donald Trump on Wednesday muzzled economy of Iran with sanctions on its mining industry after a frustrated Tehran said it would suspend some promises it made under a nuclear deal rejected by Washington.
Iran said it would immediately stop implementing some restrictions under the 2015 deal — a move aimed largely at pressing Washington’s European allies to step up to preserve the agreement.
Tehran said it would abandon even more if the remaining parties to the agreement — Britain, China, France, Germany and Russia — failed to start delivering on their commitments to sanctions relief within 60 days.
President Hassan Rouhani said the ultimatum was intended to rescue the nuclear deal from Trump, whose sanctions have caused severe pain in Iran — which had anticipated an economic boon from the agreement negotiated under then-president Barack Obama.