President of Iran Hassan Rouhani has condemned the United States over its re-establishment of economic sanctions.
The measures came into effect overnight. He called them ‘psychological warfare’ which meant to “sow division among Iranians”.
The sanctions also take aim at various sectors. Further punitive action intended against Iran’s oil trade. The European Union has spoken out against the measures.
It follows the US removal from the Joint Comprehensive Plan of Action or the Iran nuclear deal earlier this year.
The deal first negotiated during the presidency of Barack Obama. It also saw Iran limit its controversial nuclear activities in give-and-take for sanctions relief.
Mr. Trump called the deal “one-sided”. He considers renewed economic pressure will force Iran to end its malign activities.
US President Donald Trump signed an executive order to brought sanctions back at 00:01 EDT (04:01 GMT) on Tuesday. They target the purchase or acquisition of US banknotes by Iran’s government, Iran’s trade in gold and other precious metals, graphite, aluminum, steel, coal, and software used in industrial processes.
They also targeted transactions related to Iranian rial currency, activities relating to Iran’s issuance of sovereign debt and automotive sector.
A second phase also scheduled to come back into effect on 5 November. It will have implications for Iran’s energy and shipping sectors, petroleum trading and transactions by foreign financial institutions with Central Bank of Iran.
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