US enforces reimposed sanctions on Iran
Accordingly, the US administration will be reimposing specified sanctions on August 7, which marks the end of the 90-day wind-down period for business activities in or involving Iran.
The first set of sanctions coming into effect on August 7 include restrictions on the purchase or acquisition of US dollars by the Iranian government; Iran’s trade in gold and other precious metals; the automotive sector of Iran; transactions related to the Iranian rial; and activities related to Iran’s issuance of sovereign debt.
The US administration is expected to reimpose the remaining sanctions after November 4, the final day of the 180-day wind-down period. The second set of sanctions is expected to target Iran’s energy sector with restrictions on Iran’s port operators and energy, shipping, and shipbuilding sectors; petroleum-related transactions; and transactions by foreign financial institutions with the Central Bank of Iran.
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