On Tuesday, the Treasury Department released details of the sanctions that will be reimposed on Iran now that President Trump has exited the Iran nuclear deal. The sanctions may signal the death knell of the theocratic Iranian regime run by the mullahs, as the economy may be hit hard, thus provoking Iranians who want a freer society to topple the government.
On Tuesday, President Trump issued a National Security Presidential Memorandum (NSPM) directing the Secretary of State and the Secretary of the Treasury to prepare immediately for the reimposition of all of the U.S. sanctions lifted or waived in connection with the JCPOA, to be accomplished as expeditiously as possible and in no case later than 180 days from the date of the NSPM.
After November 4, 2018, OFAC expects that all the U.S. nuclear-related sanctions that had been lifted under the JCPOA will be re-imposed and in full effect. After the 90-day wind down period ends on August 6, 2018, the U.S. government will re- impose the following sanctions:
Sanctions on the purchase or acquisition of U.S. dollar banknotes by the Government of Iran; sanctions on Iran’s trade in gold or precious metals; sanctions on the direct or indirect sale, supply, or transfer to or from Iran of graphite, raw, or semi-finished metals such as aluminum and steel, coal, and software for integrating industrial processes; sanctions on significant transactions related to the purchase or sale of Iranian rials, or the maintenance of significant funds or accounts outside the territory of Iran denominated in the Iranian rial; sanctions on the purchase, subscription to, or facilitation of the issuance of Iranian sovereign debt; and sanctions on Iran’s automotive sector.
After November 4, 2018, these sanctions will be re-imposed:
Sanctions on Iran’s port operators, and shipping and shipbuilding sectors, including on the Islamic Republic of Iran Shipping Lines (IRISL), South Shipping Line Iran, or their affiliates; sanctions on petroleum-related transactions with, among others, the National Iranian Oil Company (NIOC), Naftiran Intertrade Company (NICO), and National Iranian Tanker Company (NITC), including the purchase of petroleum, petroleum products, or petrochemical products from Iran; sanctions on transactions by foreign financial institutions with the Central Bank of Iran and designated Iranian financial institutions under Section 1245 of the National Defense Authorization Act for Fiscal Year 2012 (NDAA); sanctions on the provision of specialized financial messaging services to the Central Bank of Iran and Iranian financial institutions described in Section 104(c)(2)(E)(ii) of the Comprehensive Iran Sanctions and Divestment Act of 2010 (CISADA); sanctions on the provision of underwriting services, insurance, or reinsurance; and sanctions on Iran’s energy sector.
As far as Iran’s support of terrorism: “The United States has and continues to enforce multiple authorities that target a range of Iranian malign activity outside of Iran’s nuclear program, including Iran’s support for terrorism, ballistic missile program, human rights abuses, and destabilizing activity in the region. Treasury will continue to target aggressively anyone who engages in such sanctionable activity.”
Trump’s action was lauded by the governments of Saudi Arabia, the United Arab Emirates, Israel, and Bahrain.
The Twitter account for the United Arab Emirates Embassy:
Israeli Prime Minister Benjamin Netanyahu: