In light of the US decision to cease participation in the JCPOA and to reimpose all nuclear-related sanctions lifted or waived in connection with the deal, President Donald Trump has issued today a new Executive Order reimposing certain sanctions on Iran.
On 7 August 2018, sanctions will be reimposed on:
- The purchase or acquisition of US bank notes by the Government of Iran.
- Iran’s trade in gold and other precious metals.
- Graphite, aluminium, steel, coal, and software used in industrial processes.
- Transactions related to the Iranian rial.
- Activities relating to Iran’s issuance of sovereign debt.
- Iran’s automotive sector.
On 5 November 2018, the remaining sanctions will be reimposed, including sanctions on:
- Iran’s port operators and energy, shipping, and shipbuilding sectors.
- Iran’s petroleum-related transactions.
- Transactions by foreign financial institutions with the Central Bank of Iran.
The US Administration will also relist hundreds of individuals, entities, vessels, and aircraft that were previously included on sanctions lists. See Statement from the President, Text of a Letter from the President, and White House Fact Sheet. The Fact Sheet states that 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”.