USA revived economics sanctions on Iran

The USA government on 6 August 2018 officially reimposed punishing sanctions on Iran after withdrew from the 2015 Iran nuclear accord. The sanctions ban the sale of US currency to Iran’s government, sanction Iran’s trade in gold and precious metals, outlaw the purchase of Iran’s sovereign debt and sanction Iran’s automotive sector, according to Wall Street Journal report.

However, the remaining parties in the nuclear accord, including Russia, China, Britain, France, Germany and the EU would work to maintain financial channels with Tehran and facilitate Iran’s continued exports of oil and gas, the reports said.

The USA is threatening to take a tougher step against Iran by 5 November including cut off Iran oil exports and shipping if the country does not comply with US’s requirements.