Economy

Iran imposes sanctions on nine United States firms, individuals

Iran imposes sanctions on nine United States firms, individuals

The United States has decided not to re-impose sanctions on Iran's Nuclear Programme.

Nevertheless, he added, the Treasury will apply new targeted sanctions on individuals and firms helping Iran's missile banned ballistic program and to hold Tehran to account for rights abuses. At one point, Trump said that he would "dismantle the disastrous deal with Iran".

Trump during his campaign had derided the nuclear deal as the worst he had ever seen and said he would reconsider it, but unlike other Republican primary candidates, he did not say he would scrap it.

"In renewing waivers of USA sanctions, the Trump administration has once again grudgingly acknowledged that Iran continues to abide by its obligations under the agreement".

China has complained repeatedly to the United States about unilateral sanctions against Chinese individuals and companies linked to either Iran or North Korea's nuclear or missile programmes.

"As long as Iran abides by its commitments, it is in the best interest of United States national security [for the US] to continue [to] meet its obligations under the deal and refrain from steps that undermine the agreement", Davenport said. But on Wednesday, according to a statement from the State Department, "the United States continues to waive sanctions as required to continue implementing USA sanctions-lifting commitments in the Joint Comprehensive Plan of Action". But until then, he is required to decide on renewing sanctions relief at regular intervals.

Iran promptly attacked the new sanctions as a violation of the nuclear deal. Separately, however, Washington also extended wider sanctions relief for Iran called for under the nuclear accord.

The US Treasury Department Wednesday announced unrelated, new sanctions in connection to Iran's ballistic missile program.

In the administration of the President of the United States made a decision to renew sanctions taken in 2015.

In addition, under the sanctions were three Chinese companies: Shanghai Gang Quan Trade Co., Shanghai North Transway International Trading Co and Shanghai International North Begins.

The US believes the Chinese business tied to Tehran's ballistic missile program is in breach of global law because, the US said, it could carry nuclear warheads in the future.

Reached between Iran and six world powers on 14 July 2015, the nuclear deal aimed at limiting some aspect of Tehran's nuclear activities in exchange for sanctions relief.

Mark Dubowitz, an Iran expert and head of the Washington-based Foundation for Defense of Democracies, which advocates for a tough US position on Iran, said the latest steps were part of a "much more comprehensive strategy to use all instruments of American power to roll back Iranian regional aggression" and to "rectify what the administration sees as a deeply flawed nuclear deal".


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