U.S. Threatens New Sanctions on Iran Trade Partners

Why it matters locally: Connecticut companies involved in international trade and global supply chains may need to reassess existing partnerships to ensure compliance with potential new U.S. sanctions targeting nations that continue to conduct business with Iran.

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WASHINGTON – The United States is preparing to impose additional sanctions targeting nations that continue to conduct trade and business with Iran. Sigal Mandelker, Treasury Undersecretary for Terrorism and Financial Intelligence, announced the planned action on Monday. Mandelker stated that the U.S. government intends to apply pressure on Iran by limiting its economic activity. She indicated that the administration will utilize its authorities to impose new sanctions on various sectors within the Iranian economy, including finance, shipping, and energy. President Donald Trump has contacted leaders of other countries to encourage their participation in these new sanction efforts, according to Mandelker. The administration aims to reduce Iran's access to international trade and financial systems. The U.S. previously withdrew from the Iran nuclear deal in May 2018 and has since reimposed sanctions on the country. These new measures would broaden the scope of those existing sanctions to include nations that maintain significant economic relationships with Iran.