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.
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