The Treasury Department will be taking “immediate action” to implement President Trump’s decision to withdraw from the Iran nuclear deal.
The agency said sanctions will be reimposed subject to certain 90-day and 180-day wind-down periods. Once the wind-down period has finalized, sanctions will come back into full effect. Those sanctions include both the US primary and secondary sanction authorities.
“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,” said Treasury Secretary Steven Mnuchin in a statement.
He said the US will cut off Iran’s 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
Its abuses of the international financial system