President Donald Trump imposed new sanctions Wednesday on Iran, hours after the Iranian president said he was pulling out of parts of the 2015 nuclear deal struck with world powers.
Trump said in an executive order there would be new sanctions on Iranian metal exports: steel, aluminum, copper and iron.
U.S. sanctions on Iranian oil, its No. 1 moneymaker, have had a devastating effect on its economy. Iran's metal industry is another major source of income.
"Because of our action, the Iranian regime is struggling to fund its campaign of violent terror, as its economy heads into an unprecedented depression, government revenue dries up and inflation spirals out of control," Trump said. Tensions between Iran and the United States have grown in the past week. The Pentagon sent aircraft carriers and nuclear-capable bombers to the region, accusing Iran of threatening U.S forces and planning "imminent" attacks.
Earlier Wednesday, Iranian President Hassan Rouhani announced he was backing out of parts of the nuclear deal and would take further action in 60 days if European nations did not help Iran deal with the effects of U.S. sanctions.
Rouhani said if there was no sanctions relief within 60 days, Iran would resume uranium enrichment at higher levels.
Source : VOA