US announces fresh sanctions on Iran

The United States Treasury has announced fresh sanctions on Iran, targeting banks and investment companies. The new sanctions focused on Bank Mellat and Mehr Eqtesad Bank.

According to an announcement, the US is also imposing sanctions on Iran Tractor Manufacturing Company, Steel Company and others linked to investment, commodities and engineering. The announcement came two weeks before the US administration



reimposed some of the US' severe sanctions against Iran, including its oil sector.

 A second round of sanctions, forthcoming on 4th November, will be targeting Iran's energy sector and financial transactions. A first round of American sanctions took effect in August, targeting Iran's access to the US dollar, metals trading, coal, industrial software, and auto sector.