Trump administration issues new Iran sanctions – Oil | Platts

The Trump administration on Friday issued new sanctions against Iranian entities and individuals connected to the country’s ballistic missile program.The sanctions, against 25 individuals and companies, add to a lengthy list of sanctions the US already has in place against Iran and follow a statement Wednesday by Michael Flynn, President Donald Trump’s national security adviser, that Iran was “on notice” after it conducted a ballistic missile test.During his election campaign, President Trump criticized the nuclear deal the Obama administration brokered with Iran and said he would negotiate a “better” deal, without offering specifics.The deal, formally known as the Joint Comprehensive Plan of Action, resulted in the lifting of Western sanctions on Iranian oil exports a year ago.Iran has ramped up its oil production by about 1 million b/d since the sanctions were lifted.In a background briefing Friday, a senior Trump administration official said the new sanctions were made “outside” the JCPOA and do not impact the deal.The official said no individual or entity which had sanctions dropped under the JCPOA was impacted by Friday’s sanctions.

Source: Trump administration issues new Iran sanctions – Oil | Platts News Article & Story

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