Trump Reimposes Iranian Economic Sanctions

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Their plans were upended in May, when President Donald Trump chose to withdraw from the Iran nuclear accord and reimpose economic sanctions, the first wave of which took effect at midnight on Tuesday.

The so-called snapback sanctions target Iranian purchases of USA dollars, metals trading, coal, industrial software and its auto sector.

U.S sanctions targeting Iran's oil sector and Central Bank are to be re-imposed in early November.

Meanwhile, US President Donald Trump said Monday he remains open to forging a new nuclear deal with Iran, as he confirmed Washington will go ahead with re-imposing sanctions against Tehran.

The deal, negotiated during the presidency of Barack Obama, saw Iran limit its controversial nuclear activities in exchange for sanctions relief.

Iran accused the U.S. of reneging on the nuclear agreement, signed by the Obama administration, and of causing recent Iranian economic unrest.

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The European Union´s diplomatic chief Federica Mogherini said the bloc, as well as Britain, France and Germany, deeply regretted Washington´s move.

The European Union has sought to salvage the nuclear deal and provide legal cover for its companies to continue operating in Iran.

Months of uncertainty surrounding the sanctions have already further hurt Iran's economy.

USA officials insisted the American government stands with the people of Iran and supports many of their complaints against their own government.

British Minister of State for the Middle East Alistair Burt said Europe can protect its companies from new U.S. sanctions which were reinstated on Tuesday, as the European Union activated a blocking statute to insulate firms against any fallout.

President Hassan Rouhani on Monday said Iran could hold talks with the United States only if Washington proved its trustworthiness.

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Despite days of protests and strikes across the country, there appeared to be less unrest as sanctions returned Tuesday - although that said little about the depth of despair, particularly among poorer sections of society.

Much of the damage was already done in the weeks preceding the return of sanctions, as US President Donald Trump's aggressive rhetoric spooked investors and triggered a run on the rial. The International Atomic Energy Agency, which is monitoring the implementation of the deal, has said in 11 consecutive reports that Iran is in compliance and that the agreement has allowed for greater verification of Iran's nuclear activities.

"There is a clear interest around the world", one staffer said. "That's the ask. It's pretty simple", said Pompeo, en route Sunday from a three-nation trip to Southeast Asia.

Companies caught violating the sanctions could be cut off from the United States financial system and targeted with other punishments.

Prime Minister Benjamin Netanyahu said the sanctions symbolize "the determination to block Iran's regional aggression as well as its continuous plans to arm itself with nuclear weapons".

"The morally bankrupt, and we need to remember that next time they try to lecture us", Mr. Erdan told Israel Radio.

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