President Donald Trump reimposed economic sanctions on the Islamic Republic of Iran previously lifted by the Obama administration in 2015, officials said Monday.
The wide-ranging economic sanctions follow the official U.S. withdrawal from the Iranian nuclear deal and will severely limit Iran’s ability to function in the global economy. Sanctions will limit Iranian ability to use the U.S. dollar, to trade in precious metals, and target its import/export businesses to the U.S.
“The Iranian regime has exploited the global financial system to fund its malign activities,” the White House said in a full explainer on its decision Monday, adding, “the Trump administration intends to fully enforce the sanctions reimposed against Iran, and those who fail to wind down activities with Iran risk severe consequences.”
Trump also issued a statement saying, “As we continue applying maximum economic pressure on the Iranian regime, I remain open to reaching a more comprehensive deal that addresses the full range of the regime’s malign activities, including its ballistic missile program and its support for terrorism. The United States welcomes the partnership of like-minded nations in these efforts.”
The Trump administration justified its sanctions saying they are meant to deter Iranian malign activity in the Middle East and not compel regime change.
“We’re very hopeful that we can find a way to move forward, but it’s going to require enormous change on the part of the Iranian regime,” Secretary of State Mike Pompeo said Sunday, adding, “They’ve got to behave like a normal country. That’s the ask. It’s pretty simple.”