Trump announces sanctions on Iran's steel and mining industries

Trump announces sanctions on Iran's steel and mining industries

Trump announces sanctions on Iran's steel and mining industries

Iran-US tensions have risen since Trump Administration quit.

Following Tehran's announcement on Wednesday, President Hassan Rouhani said that Iran will give a 60-day moratorium to the states parties to the nuclear deal to remedy their breaches and restore Iran's interests enshrined by the global agreement.

Iran "no longer holds any commitment" to observing restrictions on the storage of enriched uranium and heavy water stocks, and could also stop observing limits on uranium enrichment at a later stage, according to a statement from the Supreme National Security Council.

The 2015 deal, meant to keep Iran from obtaining a nuclear weapon, promised economic incentives in exchange for restrictions on its nuclear activities.

The US has imposed sweeping new sanctions on anyone who trades with Iran in iron, steel, copper, aluminum and related products, escalating the economic blockade of Tehran as the nuclear deal continues to unravel.

Trump has also said he has no plans to withdraw the 5,200 troops stationed in Iraq as part of a security agreement to advise, assist and support the country's troops in the fight against IS.

Europe has made efforts to salvage the agreement with the European Union creating a trade mechanism to bypass USA sanctions, despite the Trump administration warning it not to do so.

Lavrov, who is meeting his counterpart Mohammad Javad Zarif in Moscow, said they will discuss the "unacceptable situation" compounded by the United States. As of today, Iran will stop selling enriched uranium, Rouhani said.

Corporations feared being blacklisted in the United States more than they feared losing a share in the Iranian market.

Under terms of the deal, Iran can keep a stockpile of no more than 300 kilograms (660 pounds) of low-enriched uranium.

"This morning on my way here I heard that Iran intends to continue its nuclear programme", Netanyahu said at a ceremony on Israel's annual day of remembrance for its fallen soldiers and civilian victims of militant attacks. After the USA withdrew from the accord it restored crippling sanctions on Iran, exacerbating a severe economic crisis.

The European powers voiced alarm at Iran's statement and expressed hope that the nuclear deal could be preserved.

Khosravi further pointed to the continuing failures of the United States military in the face of regional crises and said, "It is unlikely that commanders and forces of the USA military would be willing to test the proven capabilities of the Iranian armed forces". The U.S. also has ended waivers for nations buying Iranian crude oil, a key source of revenue for Iran's government.

Iran notified Britain, Russia, China, the European Union, France and Germany of its decision earlier Wednesday. China called on all parties concerned to "exercise restraint" and avoid a further escalation in tensions.

"Since our exit from the Iran deal, which is broken beyond fix, the United States has put forward 12 conditions that offer the basis of a comprehensive agreement with Iran", the president said in a statement.

Iran reached the deal with world powers in 2015.

The New York Times on Monday cited senior USA officials that new threats by Iran against us troops in Iraq were behind the sudden deployment of an aircraft carrier strike group and Air Force bombers to the Persian Gulf.

Mr Zarif said the move was in response to American withdrawal from the JCPOA saying that Washington's attempts under the Trump administration were aimed at derailing the deal.

Iranian Foreign Minister Mohammad Javad Zarif tweeted: "After a year of patience, Iran stops measures that the USA has made impossible to continue".

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