U.S. expected to impose new sanctions on Iran's financial sector

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8 October 2020

The United States is preparing to impose fresh sanctions on Iran’s financial industry as soon as Thursday, a Republican congressional aide briefed on the matter said, as Washington ramps up pressure on Tehran weeks ahead of a key U.S. election, APA reports quoting Reuters.

The move, which would effectively shut Iran out of the global financial sector, comes after the United States last month said it triggered a “snap back,” or resumption, of virtually all U.N. sanctions on Iran, an assertion rejected by key European allies and most U.N. Security Council members including Russia and China.

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