In a background briefing, senior administration officials said this was Trump's "waiver" on Iran whose sanctions were lifted in 2015 under the landmark nuclear deal signed between th Islamic Republic and six world powers.
"The president will also make clear that this is the last such waiver he will issue," a senior administration official said.
"He intends to work with our European partners on some kind of follow-on agreement that enshrines certain triggers that the Iranian regime cannot exceed related to ballistic missiles, related to nuclear breakout period... to inspection and that would have no sunset clause," the official said.
The officials spoke on the condition of anonymity.
Issuing designations for 14 individuals and entities, Treasury Secretary Steven Mnuchin said the US will not stand by while the Iranian regime continues to engage in human rights abuses and injustice.
"We are also targeting Iran's ballistic missile programme and destabilising activities, which it continues to prioritise over the economic well-being of the Iranian people," Mnuchin said.
Among those included are Iran and China-based procurement network, Chinese national Shi Yuhua, two Iranian defence industry firm Helicopter Support and Renewal Company and Iran Aircraft Industries, Malaysia-based Green Wave Telecommunication and Iranian Motes Razavi, Iran's Supreme Council for Cyberspace and Islamic Revolutionary Guard Corps Electronic Warfare and Cyber Defense Organisation.
"This includes its human rights abuses and censorship of protesters, including those held in Iranian prisons, as well as their continued developments of threatening weapons systems," the official said.
The nuclear deal between Iran and six world powers - the US, UK, Russia, France, China, and Germany calls upon Iran not to undertake any activity related to ballistic missiles designed to be capable of delivering nuclear weapons, including launches using such ballistic missile technology.
In turn, Iran would be allowed to lift all nuclear- related economical sanctions, freeing up tens of billions of dollars in oil revenue and frozen assets.
He accused Iran of committing "multiple violations" and promised to work with Congress to "address the deal's many serious flaws".
According to the senior administration official, Trump's decision is to waive once more the nuclear sanctions that the terms of the JCPOA require the US to waive in order to remain in the deal.
The official insisted that this would not entail direct negotiations with the Iranians.
Trump yesterday told reporters that he will soon take a decision whether or not to re-impose sanctions lifted under the Iran nuclear deal. Trump has already declared that he no longer considers the 2015 nuclear deal between Iran and six world powers to be in the United States' national interest.
He, however, has continued to follow the example of his predecessor Barack Obama in regularly signing sanctions waivers so that US economic measures against Tehran do not "snap back."
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