US issues new sanctions against Iran

October 17, 2018 00:09

The United States announced the imposition of fresh sanctions on Iran targeting banks and investment companies.

The new sanctions, the US Treasury said, focused on Bank Mellat and Mehr Eqtesad Bank.

In a conference call with reporters, senior officials said the United States is also imposing sanctions on companies linked to investment, commodities, and engineering.

The now-imposed sanctions were expected as it was reported that more sanctions would be imposed on Iran in November, including barring Iran's sale of crude oil and transactions with its Central Bank.

While speaking at the 73rd session of the United Nations General Assembly in September, Iranian President Hassan Rouhani had lashed out at the sanctions reinstated by the Donald Trump-led United States administration, saying that they amounted to "economic terrorism" and "economic war."

Rouhani's remark came after Trump, in his UNGA speech, announced the re-establishment of sanctions on Iran, scheduled to be put back in place in early November.

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