US President re-imposes economic sanctions on Iran

US President Donald Trump has reimposed sanctions on Iran, which were lifted as part of the 2015 Iranian nuclear deal. However, Trump also said that he remains open to forging a new nuclear deal with Tehran that addresses the full range of issues. 

Mr Trump had announced in May this year to withdraw from the Iranian nuclear deal. 

The reimposition of sanctions on Iran will have major impact on many countries. He said, all remaining US nuclear-related sanctions will resume effective November 5, 2018. These include sanctions targeting Iran's energy sector, including petroleum-related transactions. 

On the other hand,



Iran's President Hassan Rouhani said Washington's call for new nuclear negotiations at the same time as it reimposes crippling sanctions doesn't make sense and is an attempt at psychological warfare.This was his first response to Trump's offer of talks.

EU diplomatic chief Federica Mogherini said the bloc, as well as Britain, France and Germany, deeply regretted Washington's move and they are determined to protect European economic operators engaged in legitimate business with Iran. 

It is worth to note that Iran's currency has lost around half its value since Trump announced the US would withdraw from the 2015 pact