The United States has reimposed oil and financial sanctions against Iran, significantly turning up the pressure on Tehran in order to curb its missile and nuclear programmes.
The move will restore US sanctions that were lifted under a 2015 nuclear deal negotiated by the administration of President Barack Obama, and add 300 new designations in Iran’s oil, shipping, insurance and banking sectors.
President Donald Trump announced in May that his administration was withdrawing from what he called the “worst ever” agreement negotiated by the United States. Other parties to the deal, including Britain, France, Germany, China and Russia, have said they will not leave.
China, India, South Korea, Japan and Turkey – all top importers of Iranian oil – are among eight countries expected to be given temporary exemptions from the sanctions to ensure crude oil prices are not destabilised.