Trump administration reimposes sanctions on Iran

Trump intends to force Iran

"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".

Iran's economy has rapidly deteriorated in recent months partially due to fears over the imposition of further US sanctions, igniting street protests in many Iranian cities over economic hardships.

Live:Iran's President addresses nation on economy, nuclear deal and USA sanctions.

There have been sporadic protests in the capital Tehran and throughout the country that started late previous year and have persisted ahead of the return of the sanctions.

Trump has said he would be willing to meet with Iranian President Hassan Rouhani anytime without preconditions. The activity extended to the Strait of Hormuz, a strategic waterway for global oil shipments the Revolutionary Guards has threatened to block.

The Trump administration argues that the curbs did not go far enough and it wants to force Iran back to the negotiating table.

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But according to Ross, Iran may have another option: Russian Federation. The deal had a list value of $536 million, though buyers and manufacturers typically negotiate lower prices.

The European countries said they have updated a European Union "blocking statute" to protest their companies dealing with Iran from the impact of USA sanctions.

The Toulouse, France-based firm did not immediately respond to a request for comment. Trump's election and mounting anticipation that sanctions would snap back have had some effect on Iran's economy, but "it's not the root cause", said Ross. They're already isolated in the world.

Unveiling the plans Monday, Trump branded the deal created by his predecessor "horrible". They're the world's largest state sponsor of terror.

The United States is fully committed to enforcing all of our sanctions, and we will work closely with nations conducting business with Iran to ensure complete compliance. "Yet the very first sanctions it reimposed have canceled licenses for sales of 200+ passenger jets under absurd pretexts, endangering ordinary Iranians", the country's foreign minister, Javad Zarif, tweeted Monday.

Rouhani maintained that Iran can rely on China and Russian Federation to help its oil and banking sectors as the USA ramps up sanctions in the coming months.

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Fear of sanctions and economic hardship have led to sporadic protests in several cities in recent days, with ordinary Iranians chanting slogans against Iranian leaders. The rial is now hovering around 44,000 per USA dollar against 36,099 in January, according to XE Currency Converter. Some protesters have shouted "Mullahs get lost!" and "Death to the dictator!" the semi-official Fars news agency has reported.

Monday's sanctions cover the purchase or acquisition of USA dollars by the Iranian government; trade in gold or precious metals; the direct and indirect sale, supply or transfer to or from Iran of graphite, raw or semi-finished metals such as aluminum, steels and coal; as well as significant transactions of the Iranian currency; and on the country's auto sector.

Heavier US sanctions, aimed at Iran's oil sector, are due in November.

Iran has made threats to close the Strait of Hormuz, where about 30% of oil exports pass through, but Eisenstadt and other experts dismissed this as bluster.

For his part, Rouhani praised Europe for "resisting the Americans" in its call "to join the regime of sanctions".

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