Iran loses access to US banknotes and trade after Prez Trump re-imposes tough, unilateral sanctions

Washington, August 7: The United States of America on Monday re-imposed a series of tough, unilateral sanctions against Iran which were lifted under the nuclear deal.

 

Notably, US President Donald Trump signed an executive order that targets Iran's access to US banknotes and key industries including cars, graphite, aluminum, steel, coal, carpets etc. The sanctions have come in effect from Monday midnight.

In a statement after signing an executive order, President Trump urged all nations to reduce or end imports of Iranian crude oil to join in the US-led maximum economic pressure campaign on Tehran to force it to change behaviors. He also attacked the Iran nuclear deal, claiming it was horrible, one-sided and had failed to protect US national security.

President Trump also said, "I remain open to reaching a more comprehensive deal that addresses the full range of Iran's activities, including its ballistic missile program and its accused support for terrorism." "The United States welcomes the partnership of likeminded nations in these efforts," he concluded.

Reacting to fresh sanctions imposed by Trump, Iranian President Hasan Rouhani said that America wants to launch psychological warfare against the Iranian nation.

This comes two months after President Donald Trump announced the withdrawal of the United States the 2015 landmark nuclear deal Iran accusing the country of supporting terrorism. After the announcement, President Trump also signed a set of sanctions against Iran and warned countries against any cooperation with Tehran on its controversial nuclear weapons programme.

However, France, Britain, Germany, China and Russia, other signatories of the 2015 deal along with Iran, strongly criticized the US withdrawal. Meanwhile, Indian urged the two countries including US and Iran to resolve the issue through dialogue and diplomacy.

In retaliation, with an aim to prepare its economy to resist threatened US sanctions, Iran banned imports of over 1,300 products, following public protests against the plunge of its currency to a record low.

Iran's rial currency has lost around half its value since US President Donald Trump announced that the US would withdraw from the 2015 nuclear accord.