US hopes to impose new sanctions on Iran's financial sector: Source

A Republican aide briefed on the issue, saying the United States was preparing to impose fresh sanctions on Iran's financial industry on Thursday, as Washington visited Tehran on Saturday, a week before the crucial US presidential election. The pressure has increased.

 

US hopes to impose new sanctions on Iran's financial sector: Source

The move, which would effectively shut Iran out of the global financial sector, came after the United States said last month that it would "snapback" or rescind virtually all UN sanctions on Iran. Major European allies rejected beginning, this claim. Most members of the UN Security Council, including Russia and China.

 

The Washington Post was the first to report on the US plan.

 

Tensions between Washington and Tehran have risen since US President Donald Trump unilaterally withdrew from the Iran nuclear deal reached by his predecessor in 2018 and began renegotiating the sanctions. What was relaxed under the agreement?

 

US sanctions have trampled on the Iranian economy. President Hassan Rouhani had said in June that his country was going through the most difficult year due to US economic pressures and the Coronavirus epidemic, which had severely damaged the Islamic Republic.

 

Iranians inside and outside the Trump administration have been pushing for some time to target Iran's entire financial sector.

 

Iran's oil exports, a key source of income for OPEC members, hit their lowest level in decades in decades earlier this year, but experts say Friday's move could hurt the Islamic Republic's medicine. The ability to store goods can be’ affected.

 

Under US sanctions, Trump has reintroduced everything from oil sales to shipping and financial activities, and while he is exempt from the supply of food, medicine and other humanitarian goods, many foreign banks are already Doing business with the Islamic Republic is prohibited.

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