Iran sanctions: Trump warns trading partners

US President Donald Trump right and Secretary of State Mike Pompeo appear to have different views on Iran

Trump team unites in bid to topple Iran regime

He says the move is needed to prevent Iranian nuclear ambitions. "I am asking for WORLD PEACE, nothing less!" he tweeted.

The first set of USA sanctions against Iran that had been eased under the landmark nuclear accord went back into effect early Tuesday under an executive order signed by President Donald Trump, targeting financial transactions that involve US dollars, Iran's automotive sector, the purchase of commercial planes and metals including gold.

"They want to launch psychological warfare against the Iranian nation and create divisions among the people", he said in a televised interview.

The sanctions that went into effect on Tuesday target Iranian access to United States banknotes and key economic sectors including cars and carpets. The US wasn't trading with Iran in the first place, so Iran isn't actually losing anything on that front.

Iranian president Hassan Rouhani said that Iran can still rely on China and Russian Federation to keep its oil and banking sectors afloat.

His warning was apparently meant at the European Union which put into force a law banning companies from complying with United States sanctions or court rulings and enabling them to claim compensation for potential damage.

Iranian President Hassan Rouhani reportedly said during an interview on state television just before the sanctions were reimposed that he would welcome talks with the USA without preconditions.

Iran's official exchange rate remains 42,000 rials to $1.

President Trump said on Monday the U.S. was "fully committed to enforcing all of our sanctions" and would aim "to ensure complete compliance". Heavier U.S. sanctions, aimed at Iran's oil sector, are due in November.

"We are determined to protect European economic operators engaged in legitimate business with Iran", she said in a statement.

The European Union has vowed to defend its companies working in Iran.

"We deeply regret the re-imposition of sanctions by the United States, due to the latter's withdrawal from the Joint Comprehensive Plan of Action (JCPOA)", according to a statement on Monday from the foreign ministers of the UK, Germany, France and the EU. A total of $100bn in frozen Iranian assets was also released.

Some companies already suspended trade in anticipation of the new sanctions.

The US was an original signatory to the agreement with Iran, along with Britain, France, Germany, Russia, China and the EU.

"Today, the entire world has declared they are not in line with USA policies against Iran", Zarif said in a speech, according to the semi-official ISNA news agency. On 8 May, he made good on a pledge to pull the U.S. out of the worldwide agreement.

Mr Trump said the new measures were the "most biting sanctions ever imposed".

Majidyar noted the threat of sanctions had already forced major global companies and banks to scale down their activities in Iran.

The EU has taken the unprecedented step in a bid to salvage the nuclear deal struck with Iran in 2015.

"And because of the fear of the USA sanctions, they would be very reluctant to invest in Iran or do business with Tehran after this".

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