Web Desk (August 7, 2018): The United States re-imposed a wave of tough, unilateral sanctions against Iran on Tuesday, bringing back into effect harsh penalties that had been lifted under a historic, multi-party nuclear agreement that President Donald Trump abandoned in May.
The first of two rounds of US sanctions kicked in at 12:01 am (0431 GMT), targeting Iran´s access to US banknotes and key industries, including cars and carpets.
Iranians are already seeing the effects of the sanctions, with Iran´s rial currency losing around half its value since Trump announced the US would withdraw from the 2015 nuclear accord.
Trump´s contempt for the nuclear deal dates back to his time as a presidential candidate and on May 8, he made good on a pledge to pull America out of the international agreement.
He blasted the agreement yet again Monday, calling it a “horrible, one-sided deal (that) failed to achieve the fundamental objective of blocking all paths to an Iranian nuclear bomb.”
The unilateral withdrawal came despite other parties to the agreement — Britain, China, France, Germany, Russia and the EU — pleading with Trump not to abandon the pact aimed at blocking Iran from acquiring a nuclear weapon, and highlights the US leader´s go-it-alone style and his distaste for multilateral agreements.
In an executive order Monday, Trump said the sanctions seek to pile financial pressure on Tehran to force a “comprehensive and lasting solution” to Iranian threats, including its development of missiles and regional “malign” activities.