US President Donald Trump today reimposed sanctions on Iran, which were lifted as part of the 2015 Iranian nuclear deal, but said he remains open to forging a new nuclear deal with Tehran.
In May, Trump had announced to withdraw from the Iranian nuclear deal. The reimposition of sanctions on Iran, will have major impact on countries like India, with which it has traditional and historic trade relationship.
"Today, the US is taking action to reimpose nuclear-related sanctions with respect to Iran that were lifted in connection with the Joint Comprehensive Plan of Action of July 14, 2015 (the JCPOA)," Trump said.
He said all remaining US nuclear-related sanctions will resume effective November 5, 2018. These include sanctions targeting Iran's energy sector, including petroleum-related transactions, as well as transactions by foreign financial institutions with the Central Bank of Iran.
Trump, however, said he remains open to reaching a more comprehensive deal that addresses the full range of the Iranian regime's malign activities, including its ballistic missile programme and its support for terrorism.
"The US welcomes the partnership of likeminded nations in these efforts," he added.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app