Reimposing Certain Sanctions With Respect to Iran
Aug 7, 2018
Signed by: Donald Trump
Signed on: Aug 6, 2018
Published on: Aug 7, 2018
Aug 7, 2018
Signed by: Donald Trump
Signed on: Aug 6, 2018
Published on: Aug 7, 2018
Summary
Puts back economic penalties on Iran's government and key industries to apply financial pressure and address threats from Iran's actions.
What problem does this solve?
The U.S. left the Iran nuclear deal because it believed Iran continued to be a threat through its missile programs and regional aggression. This order puts back old economic penalties to pressure Iran to stop its harmful actions and limit its resources.
What does this order do?
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Blocking sanctions relating to support for the government of iran's purchase or acquisition of u.s. bank notes or precious metals; certain iranian persons; and iran's energy, shipping, and shipbuilding sectors and port operators
Blocks property of those supporting Iran's government
Freezes all U.S.-based assets of any person or company that helps the Iranian government buy U.S. dollars or precious metals, or supports Iran's oil, shipping, and port sectors.
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Correspondent and payable-through account sanctions relating to iran's automotive sector; certain iranian persons; and trade in iranian petroleum, petroleum products, and petrochemical products
Penalizes banks trading with Iran
Authorizes restrictions on foreign banks that knowingly handle significant financial transactions for Iran's car industry or for the trade of Iranian oil and petrochemicals.
Targets Iran's currency
Allows sanctions on foreign banks that deal in large amounts of Iranian rials or hold rial-denominated accounts outside of Iran, aiming to weaken the currency.
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Sanctions with respect to the diversion of goods intended for the people of iran, the transfer of goods or technologies to iran that are likely to be used to commit human rights abuses, and censorship
Sanctions human rights abusers and censors
Blocks the property of people involved in corruption, diverting goods meant for the Iranian people, or providing technology used for human rights abuses or censorship in Iran.
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Entities owned or controlled by a united states person and established or maintained outside the united states
Restricts U.S.-owned foreign companies
Prohibits foreign companies owned or controlled by a U.S. person from doing business with the Iranian government or anyone under its jurisdiction.
Suspends U.S. entry for sanctioned individuals
Bans individuals who are sanctioned under this order from entering the United States, whether as immigrants or for temporary visits.
Revokes previous executive orders
Cancels and replaces Executive Orders 13628 and 13716, which had implemented and then lifted sanctions as part of the Iran nuclear deal.
Who does this affect?
- Government of Iran
- Foreign companies and financial institutions
- Iranian citizens
What is the real world impact?
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Pressures Iran financially
Aims to cut off money to the Iranian government to stop them from funding missile programs, regional conflicts, and terrorist groups.
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Impacts international relations
Places sanctions on foreign companies and banks that do business with Iran, potentially creating tension with U.S. allies who want to continue trading with Iran under the nuclear deal.
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Undermines the Iran nuclear deal
Reimposes sanctions that were lifted under the Joint Comprehensive Plan of Action (JCPOA), effectively ending U.S. participation and discouraging other countries from upholding the agreement.
When does this start?
This order takes effect on August 7, 2018, with different penalties starting on separate dates.
Sanctions on U.S. bank notes and automotive sector
Beginning August 7, 2018, sanctions apply to those helping Iran buy U.S. currency or trading with Iran's automotive sector.
Sanctions on oil, shipping, and banking
Beginning November 5, 2018, sanctions apply to those supporting Iran's national oil companies, its central bank, and its shipping and port sectors.