US reimposes sanctions as Iran deal crumbles
With the Donald Trump administration set to reimpose Iran sanctions after exiting the nuclear deal, it’s looking less and less likely the rest of the world can salvage the accord.
The United States is set on Aug. 6 to reimpose a first batch of Iran sanctions lifted under the 2015 nuclear deal following President Donald Trump’s withdrawal from the accord.
The upcoming sanctions target Iran’s automotive, precious metal, steel and aluminum sectors as well as rial transactions and civilian aircraft sales. While relatively minor compared with the sweeping oil sanctions due to resume in November, they could still put another dent in Iran’s strained economy and create new urgency on Tehran to solidify business ties with other countries.
“It really boils down to: Is Iran able to sustain enough commerce to stay out of a recession?” said Jarrett Blanc, who coordinated oversight of the nuclear deal for President Barack Obama’s State Department.
Prior to the nuclear deal, US and international sanctions had helped drive Iran into a depression. While the economy has improved since then, Tehran has been rattled by months of protests, fueled in large part by sundry economic grievances. Manufacturing sanctions in particular will only add to the pain.
