Published: Mon, June 24, 2019
Markets | By Otis Pena

Trump Announces New Iran Sanctions

Trump Announces New Iran Sanctions

The United States imposed sanctions Monday on Iran's supreme leader, Ayatollah Ali Khamenei, and a string of military chiefs, tightening pressure on the country that US President Donald Trump threatened with "obliteration" if it seeks war.

But U.S. -Iran relations have deteriorated during Trump's tenure, particularly since his decision previous year to withdraw from the nuclear deal and reimpose economic sanctions. It came as the White House and Pentagon were also considering military strikes, but Trump revealed last Friday that he called them off after learning up to 150 Iranians could be killed.

Iran said on Thursday it downed the unmanned aircraft in Iranian airspace.

Trump said that the executive order signed by him will impose "hard hitting" sanction on Iran and it will deny the Iranian Supreme Leader and other officials access to financial instruments. "Never can Iran have a nuclear weapon", Trump told reporters in the Oval Office on Monday.

Monday's sanctions targeting the Supreme Leader i meant to country's leadership access "to financial resources" and authorized the "targeting of persons appointed to certain official or other positions by the Supreme Leader or the Supreme Leader's Office".

Iran's Revolutionary Guard has the capacity to act, though Tehran denies Washington's assertion that the Revolutionary Guard was behind recent attacks on cargo ships in the Persian Gulf. Iran has decried the US sanctions, which essentially bar Iran from selling its oil internationally, as "economic terrorism".

"We confidently say that the crushing response can always be repeated, and the enemy knows it", Khanzadi was quoted as saying by the semi-official Tasnim news agency during a meeting with a group of defence officials.

Iran Says US Cyberattacks Aimed to 'Cripple' Iranian Missiles Failed
Bolton said Iran should not "mistake U.S. prudence and discretion for weakness" after Trump called off the military strike. On Sunday US national security adviser John Bolton cautioned Iran against misinterpreting the last-minute cancellation .

Why did Iran shoot down a us drone?

The United States has also blamed Iran for attacks earlier this month on two oil tankers at the entrance of the Gulf of Oman.

Iran said on Monday that USA cyber attacks on its military had failed, while hinting that it could be willing to discuss new concessions if the United States were to lift sanctions and offer new incentives. "I think the question people should be asking is. why Iran continues to reject diplomacy".

President Donald Trump promised to impose fresh sanctions on Iran after Tehran downed a $150 million United States surveillance drone near the Strait of Hormuz last week. "We're literally locked up tens and tens of billions of dollars", he said. Trump's administration has said the deal struck under his predecessor President Barack Obama did not do enough. Iran has said it is not interested in a dialogue with Trump.

USA secretary of state Mike Pompeo said "significant" new sanctions would be announced on Tehran on Monday.

Although the volumes from the USA were low compared to those of India's traditional Middle Eastern suppliers, the growth in US imports obliterated the rise in Middle East shipments, also because the official selling prices (OSPs) of Saudi Aramco and other Middle East oil producers have been higher, enabling the sell its oil to India.

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