Washington, Aug 6: US Secretary of State Mike Pompeo said that the United States would “enforce the sanctions” it is reimposing against Iran after President Donald Trump pulled out of the 2015 nuclear pact.
The more significant tranche of sanctions, including on oil sales, won’t however, come into force until November.
Trump pulled from the 2015 accord, which was negotiated by his predecessor Barack Obama. The deal was struck between Iran, Germany, France, the UK, Russia and China and the agreement led to the lifting of sanctions on Tehran in exchange for curbs on its nuclear programme.
The Trump administration gave companies doing business with Iran two “wind-down” periods and on Monday ends another 90-day period after which Washington can sanction transactions with US dollar banknotes; trade in gold and precious metals; direct or indirect sales of graphite, raw or semi-finished metals and Iran’s automotive sector.
Additionally, licenses for exporting commercial aircraft to Iran, as well as related parts and services, are set to be revoked.
The revocation of export licenses for civil aviation, meanwhile, will hit Boeing and Airbus, which had $40 billion deals to sell aircraft to Iran Air.