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updated 10:20 AM UTC, Dec 13, 2023

Nuclear Deal: U.S. Sanctions Reimposed On Iran After 90-day Wind-Down

Unic Press UK: United States fresh sanctions against the Islamic Republic of Iran comes into force today, Tuesday, at 12:01 AM [eastern daylight time (EDT)] as yesterday, August 6, 2018, was the final day of the 90-day wind-down period.

According to the U.S. Department of the Treasury, “The New Iran E.O. is effective at 12:01 a.m. eastern daylight time (EDT) on August 7, 2018, at which time the sanctions subject to the 90-day wind-down period will come into effect pursuant to the New Iran E.O. and, as appropriate, relevant statutory provisions that will no longer be within the scope of the waiver actions taken by the Secretary of State. The 180-day wind-down period ends at 11:59 p.m. eastern standard time (EST) on November 4, 2018, and the remaining sanctions that had been lifted or waived pursuant to the JCPOA come back into full effect on November 5, 2018.”

It was on May 8, 2018 that President Donald Trump inked an Executive Order that ceased the U.S. participation in the Joint Comprehensive Plan of Action (JCPOA), claiming that deal was bad for the world and America, insisting that a new deal is long overdue.

The fresh sanctions come into force today, given an Executive Order [‘Reimposing Certain Sanctions With Respect To Iran’] of August 6, 2018, which imposes a range of sanctions on Iran’s trade and financial transactions, Iran’s automotive, energy, shipping and petroleum sectors, and many others.

The U.S. government will not be doing business with those who do business with the Islamic Republic of Iran, says President Donald Trump.

 

 

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