The U.S. on Monday will reimpose major sanctions against Iran that had been suspended by the former President Barack Obama after he signed the 2015 nuclear deal, threatening to further unravel the Islamic country’s already-struggling economy, Fox News informed .
Protesters spread across Iran throughout the weekend, as soaring unemployment and poverty made demonstrators to torch police vehicles and burn tires. At least one person was shot and killed in the protests, with some shouting “Mullahs get lost!” and “Death to the dictator!” the Fars news agency reported.
Even more severe U.S. sanctions against Iran’s banking and energy sectors are set to go into effect in November, including restrictions on Iran’s oil industry that could cut off a crucial source of hard currency. The sanctions that will be re-imposed Monday target Iranian trade in automobiles, gold and other key metals.
President Trump formally withdrew from the Iran nuclear deal in May, after lambasting it repeatedly as a “horrible” arrangement that enriched the anti-American Islamic state without adequately ensuring it would never produce nuclear weapons.
The White House has said its goal is a new accord that would include a radical transformation of Iran’s policies, including its military support for the Syrian government and regional militant groups, two issues not covered by the 2015 deal.
Trump has identified apparent leverage: Iran’s economy, which has rapidly deteriorated in recent months due in large part to uncertainty over the Iran deal. The Iranian rial has fallen to 99,000 to the U.S. dollar despite a government-imposed rate of 44,000.
The President highlighted the country’s struggles on Twitter this week, even as he reiterated that he would be willing to meet with Iranian President Hassan Rouhani.
“Iran, and it’s economy, is going very bad, and fast!” Trump wrote. “I will meet, or not meet, it doesn’t matter – it is up to them!”
Meanwhile, tensions remain high. Iran’s powerful Revolutionary Guard on Sunday acknowledged conducting recent naval exercises near the crucial Strait of Hormuz after renewing threats to cut off the waterway to oil traders.
The nuclear deal lifted international sanctions in return for Iran limiting its nuclear program and allowing regular inspections. U.N. inspectors said Iran was complying with the deal.