Trump Administration Announces New Sanctions on Iran

On Monday the Trump administration announced a new series of sanctions against Iran, the latest phase in the US campaign to exert maximum pressure on Tehran. The latest batch of sanctions will target Iran’s weapons manufacturing industry. Secretary of State Mike Pompeo announced the action today at a joint press conference with the principal members of the Trump administration’s national security team. President Trump had earlier signed an executive order related to the sanctions.

“Today, I will take the first action under this new executive order by sanctioning the Iranian Ministry of Defense and armed forces logistics and Iran’s defense industries organization and its director,” Pompeo said.

The announcement comes as the UN General Assembly kicks off in New York City. This year, the gathering will be like no other in the UN’s history due to the COVID-19 pandemic. Most of the diplomatic interaction and speeches will come through digital means. The renewal of UN-sponsored sanctions against Iran was expected to be a topic for discussion at the General Assembly but under the circumstances it no longer appears probable.

Iran’s currency reacted to a previous US announcements earlier in the weekend that all UN sanctions against Iran had been restored. The rial hit a record low on Sunday owing largely to Iranian-US tensions. The rial has lost roughly half of its value in 2020.

 Adding to the tense atmosphere is the appearance of the USS Nimitz carrier strike group in the Persian Gulf to conduct operations in close proximity to the Iranian coast. Nimitz and her escorts transited the Strait of Hormuz late last week, and is the first US aircraft carrier to operate within the Gulf since November, 2019.

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