US slaps new sanctions on Iranian regime

US slaps new sanctions on Iranian regime
The United States tightened the screws further on Iran with sanctions on its metal industry on the day Tehran said it was suspending some of its commitments under the 2015 nuclear deal with world powers.

The White House said that the new sanctions, announced on May 8, target Iran's steel, aluminum, copper and iron sectors -- all key sources of revenue for the country.

Hours earlier, Iran said that it will no longer sell its surplus enriched uranium and heavy water to other nations as stipulated in the nuclear agreement between Tehran and six world powers. It also threatened to enrich its uranium stockpile closer to weapons-grade levels in 60 days if world powers fail to negotiate new terms.

The moves came on the anniversary of US President Donald Trump's decision to withdraw the United States from the 2015 accord, which aimed at curbing Iran's nuclear program in return for relief from sanctions.

Britain, France, and Germany -- the Western European parties to the nuclear pact -- criticized Iran's "unwelcome" step and warned Iran not to abandon the deal.

Russia, another signatory to the agreement, said Washington was to blame for Iran's decision.

In a statement, Trump said that the new sanctions target “Iran's revenue from the export of industrial metals -- 10 percent of its export economy -- and puts other nations on notice that allowing Iranian steel and other metals into your ports will no longer be tolerated."

Washington has already moved to restrict Iran’s oil exports, the country's largest source of hard currency.

"Tehran can expect further actions unless it fundamentally alters its conduct," Trump said, adding that he was open to talks.

"I look forward to some day meeting with the leaders of Iran in order to work out an agreement and, very importantly, taking steps to give Iran the future it deserves," the US president said.

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