US Treasury taking “immediate action” to withdraw from Iran deal

WASHINGTON, The Department of Treasury announced Tuesday that it is taking “immediate action” to implement President Donald Trump’s decision to withdraw from the Iran nuclear deal and begin re-imposing US nuclear-related sanctions on the Iranian regime.

The Department of Treasury noted that “sanctions will be re-imposed subject to certain 90 day and 180 day wind-down periods.” It added “at the conclusion of the wind-down periods, the applicable sanctions will come back into full effect. This includes actions under both our primary and secondary sanctions authorities.” In this regard, Treasury Secretary Steven Mnuchin said in a statement “President Trump has been consistent and clear that this Administration is resolved to addressing the totality of Iran’s destabilizing activities.” He affirmed “we will continue to work with our allies to build an agreement that is truly in the best interest of our long-term national security.” “The United States will cut off the IRGC’s (The Islamic Revolutionary Guard Corps) access to capital to fund Iranian malign activity, including its status as the world’s largest state sponsor of terror, its use of ballistic missiles against our allies, its support for the brutal Assad regime in Syria, its human rights violations against its own people, and its abuses of the international financial system,” he stressed.

Meanwhile, National Security Advisor John Bolton told reporters during a briefing “we have announced a withdrawal from the deal. So we’re out of the deal.” He added that part of the presidential memorandum Trump signed is “reinstituting all of the nuclear-related sanctions that were waived by the Obama administration. So the sanctions are in effect as soon as they’re promulgated.” “With respect to any new or prospective contract that’s covered by it — with firms covered by our jurisdiction, that they are forbidden. So, in other words, no new contracts in the prescribed areas,” he indicated.

He added that “for contracts that already exist, there is a wind-down period to allow an orderly termination of the contract, so that people who — in good-faith reliance on the waiver of the sanctions — have engaged in business are not totally surprised.” He affirmed “there are going to be different wind-down periods depending on the nature of the commodities.” As for imposing additional sanctions on Iran, Bolton said that “it’s entirely possible that additional sanctions will follow as new information comes to light. And that’s something that we should pursue vigorously because we want to put as much economic pressure on Iran as we can, and deny them the revenues that they would have gotten from the transactions we’re now eliminating.” Trump announced earlier today that he was pulling the US out of the 2015 nuclear agreement with Iran, saying “the Iran deal is defective at its core.

Source: Kuwait News Agency

US Treasury taking “immediate action” to withdraw from Iran deal

WASHINGTON, The Department of Treasury announced Tuesday that it is taking “immediate action” to implement President Donald Trump’s decision to withdraw from the Iran nuclear deal and begin re-imposing US nuclear-related sanctions on the Iranian regime.

The Department of Treasury noted that “sanctions will be re-imposed subject to certain 90 day and 180 day wind-down periods.” It added “at the conclusion of the wind-down periods, the applicable sanctions will come back into full effect. This includes actions under both our primary and secondary sanctions authorities.” In this regard, Treasury Secretary Steven Mnuchin said in a statement “President Trump has been consistent and clear that this Administration is resolved to addressing the totality of Iran’s destabilizing activities.” He affirmed “we will continue to work with our allies to build an agreement that is truly in the best interest of our long-term national security.” “The United States will cut off the IRGC’s (The Islamic Revolutionary Guard Corps) access to capital to fund Iranian malign activity, including its status as the world’s largest state sponsor of terror, its use of ballistic missiles against our allies, its support for the brutal Assad regime in Syria, its human rights violations against its own people, and its abuses of the international financial system,” he stressed.

Meanwhile, National Security Advisor John Bolton told reporters during a briefing “we have announced a withdrawal from the deal. So we’re out of the deal.” He added that part of the presidential memorandum Trump signed is “reinstituting all of the nuclear-related sanctions that were waived by the Obama administration. So the sanctions are in effect as soon as they’re promulgated.” “With respect to any new or prospective contract that’s covered by it — with firms covered by our jurisdiction, that they are forbidden. So, in other words, no new contracts in the prescribed areas,” he indicated.

He added that “for contracts that already exist, there is a wind-down period to allow an orderly termination of the contract, so that people who — in good-faith reliance on the waiver of the sanctions — have engaged in business are not totally surprised.” He affirmed “there are going to be different wind-down periods depending on the nature of the commodities.” As for imposing additional sanctions on Iran, Bolton said that “it’s entirely possible that additional sanctions will follow as new information comes to light. And that’s something that we should pursue vigorously because we want to put as much economic pressure on Iran as we can, and deny them the revenues that they would have gotten from the transactions we’re now eliminating.” Trump announced earlier today that he was pulling the US out of the 2015 nuclear agreement with Iran, saying “the Iran deal is defective at its core.

Source: Kuwait News Agency