U.S. bid to hit Iran’s financial sector

The U.S. is preparing to impose fresh sanctions on Iran’s financial sector – blacklisting as many as 14 Iranian banks – effectively shutting the Islamic Republic out of the global financial system

2015 1
2016 2
2017
2018 3 4 5
2019
2020 6 7 8

1 Jul 2015: Iran, P5+1 – U.S., UK, Germany, France, China, Russia – and EU sign Joint Comprehensive Plan of Action (JCPOA).
Nuclear deal lifts most UN sanctions on Iran and agrees an end to arms embargo in 2020

2 Jan 2016: Director General of International Atomic Energy Agency, Yukiya Amano (above), reports that Iran has taken required steps to restrict its nuclear programme. IAEA’s report triggers U.S., EU, and United Nations sanctions relief

3 May 2018: U.S. President Donald Trump (below) withdraws from nuclear deal

4 Aug: U.S. reimposes sanctions on $40.8bn of trade with Iran. Iranian currency loses more than half of its value

5 Nov: Administration slaps sanctions on 50 Iranian banks, shipping industry and IranAir... ...whose aircraft have problems refuelling on international routes

6 Jan 2020: Trump authorises drone strike that kills Iran’s top military commander, Gen. Qassem Soleimani (above). Iran retaliates by firing missiles at U.S. bases in Iraq. No American troops’ lives are lost. Trump threatens more sanctions

7 Aug 19: President Trump announces “snap back” – restoration of all suspended UN sanctions on Iran.
Snap back rejected by European allies and Security Council

8 Nov 3: Intensity of Iran’s reaction against U.S. hinges on election. If Trump wins, Iran will likely retaliate


Sources: Bloomberg, Reuters, Stratfor 
Pictures: Getty Images
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