The first round of U.S. nuclear sanctions on Iran snapped back into place on Monday, and although it pales in comparison to a raft of penalties yet to come, experts say it sends a clear signal that Washington is willing to pummel the Iranian economy.
President Donald Trump gave banks and companies 90 days to prepare for the return of some sanctions after he abandoned the 2015 Iran nuclear deal in May. Since then, Iran’s currency, the rial, has plummeted and the Iranian economy is faltering, sparking protests across the country.
The Trump administration is wagering that the sanctions can pile enough pressure on Iran that they will lead to a better deal than President Barack Obama secured, even though Obama enforced the same penalties and marshaled far more international support for them.
Save 40 to 60% off our best-selling products during our Memorial Day Super Sale!