With the hours ticking by ahead of Washington's re-imposition of a slew of economic sanctions on Iran, President Trump has just released a statement confirming the narrative he would prefer Americans believe.
Just hours after the European Union issued a statement Monday ahead of when renewed US sanctions are set to snap back against Iran after midnight US Eastern time, saying it "deeply regrets" the sanctions and will take immediate action to protect European companies still doing business with Iran.
Trump makes it clear that any violation (among America's allies) will not be tolerated...
"The Trump Administration intends to fully enforce the sanctions reimposed against Iran, and those who fail to wind down activities with Iran risk severe consequences."
The first set of sanctions will hit at the Iranian financial system, including Iranian government purchases of US dollars and its gold trade and government bond sales. The US' dominant role in the world's financial system means it has been able to pressure countries and companies into compliance, though China remains a key holdout.
"The JCPOA, a horrible, one-sided deal, failed to achieve the fundamental objective of blocking all paths to an Iranian nuclear bomb," Trump said Monday, defining that its policy as applying "maximum economic pressure on the Iranian regime."
The US denies it is seeking regime change, but rather aims to "modify the regime's behavior," according to an administration official.
A US administration official said the Iranian government was using financial resources freed up by the nuclear deal "to spread human misery." The US was seeking now to address the "totality of the Iranian threat" in the Middle East.
"None of this needs to happen," an official said on sanctions. Trump is willing to meet the Iranian leadership "any time" for talks," the official noted.
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Full Statement below:
REIMPOSING TOUGH SANCTIONS: President Donald J. Trump, Administration is taking action to reimpose sanctions lifted under the Joint Comprehensive Plan of Action (JCPOA).
- President Trump made clear when he ended United States participation in the JCPOA that his Administration would be reimposing tough sanctions on the Iranian regime.
In connection with the withdrawal from the JCPOA, the Administration laid out two wind-down periods of 90 days and 180 days for business activities in or involving Iran.
Consistent with President Trump's decision, the Administration will be reimposing specified sanctions after August 6, the final day of the 90-day wind-down period.
On August 7, sanctions will be reimposed on:
The purchase or acquisition of United States bank notes by the Government of Iran.
Iran, trade in gold and other precious metals.
Graphite, aluminum, steel, coal, and software used in industrial processes.
Transactions related to the Iranian rial.
Activities relating to Iran's issuance of sovereign debt
Iran, automotive sector.
- The remaining sanctions will be reimposed on November 5, including sanctions on:
Iran, port operators and energy, shipping, and shipbuilding sectors.
Iran, petroleum-related transactions.
Transactions by foreign financial institutions with the Central Bank of Iran.
- The Administration will also relist hundreds of individuals, entities, vessels, and aircraft that were previously included on sanctions lists.
ENSURING FULL ENFORCEMENT: President Trump will continue to stand up to the Iranian regime's aggression, and the United States will fully enforce the reimposed sanctions.
- The Iranian regime has exploited the global financial system to fund its malign activities.
The regime has used this funding to support terrorism, promote ruthless regimes, destabilize the region, and abuse the human rights of its own people.
The Trump Administration intends to fully enforce the sanctions reimposed against Iran, and those who fail to wind down activities with Iran risk severe consequences.
Since the President announced his decision on May 8 to withdraw from the JCPOA, the Administration has sanctioned 38 Iran-related targets in six separate actions.
PROTECTING OUR NATIONAL SECURITY: The JCPOA was defective at its core and failed to guarantee the safety of the American people.
President Trump's decision to withdraw from the Iran deal upheld his highest obligation: to protect the safety and security of the American people.
The Iranian regime only grew more aggressive under the cover of the JCPOA and was given access to more resources to pursue its malign activities.
The regime continues to threaten the United States and our allies, exploit the international financial system, and support terrorism and foreign proxies.
- The Administration is working with allies to bring pressure on the Iranian regime to achieve an agreement that denies all paths to a nuclear weapon and addresses other malign activities.
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The initial reaction in markets was modest aside from in the oil complex where prices spiked...