President Trump also said that he will pursue additional sanction that will be stronger than any imposed previously.
The Trump administration on Friday announced the restoration of the final round of sanctions on Iran that were lifted under the controversial 2015 Iran nuclear deal -- though there will be some exemptions for eight countries.
Secretary of State Mike Pompeo and Treasury Secretary Steve Mnuchin announced the sanctions on Iran’s shipping, financial and energy sectors. Particularly, the sanctions will target Iran’s crude oil exports and will penalize countries that don’t stop importing oil and foreign companies that do business with certain Iranian entities.
But the administration is also announcing that there would be eight significant reduction exemptions (SREs) to countries that haven’t completely eliminated oil imports from Iran. The waivers will last for a six-month period and will be re-evaluated after that time is up.
The move is the latest round of sanctions re-imposed since President Trump announced the U.S. exit from the 2015 Iran nuclear deal. In August the administration re-imposed a host of economic sanctions, drawing criticism from European leaders in particular.