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Trump Reimposing Sanctions on Iran’s Shipping and Shipbuilding

Trump said on Tuesday, May 8, that the United States will pull back from the Joint Comprehensive Plan of Action (JCPOA) and begin reimposing U.S. nuclear-related sanctions on the Iranian regime.

“Treasury’s Office of Foreign Assets Control (OFAC) is taking immediate action to implement the president’s decision. Sanctions will be reimposed subject to certain 90-day and 180-day wind-down periods,” the U.S. Treasury Office said.

The White House warned that those who fail to wind down activities with Iran by the end of the period “will risk severe consequences.”

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