White House, Office of the Press Secretary
November 2, 2018
REIMPOSING ALL SANCTIONS: President Donald J. Trump is reimposing the toughest sanctions ever on Iran, targeting many of the corrupt regime’s critical sectors.
- On November 5, 2018, all United States sanctions that were lifted under the disastrous Iran nuclear deal will be fully reimposed.
- Together with the unprecedented sanctions actions taken by the Trump Administration, this will be the toughest sanctions regime ever imposed on Iran.
- Sanctions will target critical sectors of Iran’s economy, such as its energy, shipping, shipbuilding, and financial sectors.
- Over 700 individuals, entities, vessels, and aircraft are going back onto our sanctions list, including major Iranian banks, oil exporters, and shipping companies.
- The sanctions also target transactions with the Central Bank of Iran and designated Iranian financial institutions.
- Sales of food, agricultural commodities, medicine, and medical devices to Iran have long been—and remain—exempt from our sanctions.
- Reimposing sanctions will cut off revenues the regime uses to bankroll terrorist groups, foment global instability, fund nuclear and ballistic missile programs, and enrich its leaders.
FOLLOWING THROUGH WITH FULL ENFORCEMENT: President Trump will continue to stand up to the Iranian regime’s aggression and will fully enforce the reimposed sanctions.
- The Trump Administration intends to fully enforce all United States sanctions on Iran, and will target those who attempt to violate or circumvent them.
- Those who have failed to wind down sanctionable activities with Iran risk severe consequences.
- The Administration has already issued 19 rounds of sanctions, designating 168 Iran-related persons.
- These individuals were targeted for their ties to Iran’s support of terrorism, ballistic missile program, human rights abuses, criminal activities, and more.
- Iran’s oil exports have fallen by approximately one million barrels per day since peaking in June, and over twenty countries have reduced their imports of Iranian oil to zero.
- The Administration is pressing other importers to reduce to zero as quickly as possible.
- We are providing fewer exceptions to sanctions than the last administration.
ENSURING STABILITY IN OIL MARKETS: The United States is confident that energy markets will remain well supplied despite Iranian oil export reductions.
- From August 2017 to August 2018, United States crude oil production increased by 2.1 million barrels per day and exports increased by over 700,000 barrels per day, adding to market liquidity.
- Over the next year, United States production will increase by one million barrels per day or more.
- We are working with oil producers around the world to increase their supply as well.
- As a result of this increased production, respected forecasters like the United States Energy Information Administration expect global oil supply to keep pace with demand in late 2018 and exceed demand in 2019.