The Treasury Department announced it would allow a 90-day 'wind-down' period as the deadline for any foreign countries involved with transactions related to Iran's metal sector.

Iran Press/America: The US has imposed new sanctions on anyone who trades with Iran in iron, steel, copper, aluminum and related products, escalating the economic blockade of Tehran as the nuclear deal continues to unravel.

An executive order signed by US President, Donald Trump on Wednesday says the property of anyone who owns or operates or engages in 'significant' transactions with Iran’s metals sector will be seized by the US under sanctions laws. Likewise, anyone accused of materially assisting, sponsoring or supporting anyone who is sanctioned will have their property blocked as well, reported Iran Press news agency citing Russia Today.

The blocked property 'may not be transferred, paid, exported, withdrawn, or otherwise dealt in,' says the executive order. The sanctions apply to property inside the US, or in possession or control of any US person.

The Treasury Department announced it would allow a 90-day 'wind-down' period for any transactions related to Iran's metal sector.

The new sanctions are part of the continuing US policy against Iran. Meanwhile, Metals are said to represent about 10 percent of Iran's exports.

Trump’s latest move comes exactly a year after he unilaterally withdraw the US from the Joint Comprehensive Plan of Action ( JCPOA)  nuclear agreement, negotiated by his predecessor in 2015.

Rouhani: Major surgery needed to save JCPOA from certain death

Iran's Rouhani calls for surgery like action to save JCPOA

Speaking in a cabinet session on Wednesday, Hassan Rouhani described the Joint Comprehensive Plan of Action (JCPOA) beneficial to the region and the world and detrimental to the enemies of Iran, stressing, “American hardliners, Zionism, and regional reactionaries have been -and are- anti-JCPOA and anti-Iran.”

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Indicating that Tehran has lost its patience with Europe’s efforts to create a new viable financial mechanism that would allow European firms to trade with Iran, in his live TV address president Rouhani said: "Sections 26 and 36 of the JCPOA, the deal signed in 2015, allow Iran to take steps if one party withdraws from the agreement."

Throughout his speech, the Iranian President explained that the road to diplomacy is open, and Iran’s step-by-step approach is a new opportunity for diplomacy and correcting the wrong path of unilateralism. 

Iran has issued a stern warning to the European signatories of the Joint Comprehensive Plan Of Action (JCPOA) giving them a 60-day period to fulfil their obligations, promises and commitments under the JCPOA, and warning them that Iran's patience has reached its limit, and Tehran now expects to see the European signatories to the agreement implement their obligations. The warning was issued on the first anniversary of US abrogation of the multilateral nuclear agreement, JCPOA.

Tehran’s decision on JCPOA was legal

Iranian foreign minister, Mohammad Javad Zarif, during a meeting with his Russian counterpart, Sergey Lavrov added that Iran’s actions did not violate the original terms of the nuclear agreement and that Tehran now had 60 days to take the necessary diplomatic steps.

Sergey Lavrov, for his part, said that the irresponsible policies of the US government have led to an "unacceptable situation" in which the multilateral pact on Iran’s nuclear program may fail, RT reported.

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Tehran’s decision on JCPOA was legal: Zarif

According to the report, Lavrov criticized the US during the meeting with Zarif, who personally brought a letter from his government informing Russia about Tehran’s latest decision on the nuclear agreement.

“As I understand, our main task here is to discuss the unacceptable situation, which has unfolded around the JCPOA as a result of irresponsible behavior by the United States,” the Russian diplomat said.

Withdrawal from the nuclear deal on Iran's agenda

Iran's Deputy Foreign Minister for political affairs, Abbas Araghchi, said 'step-by-step' withdrawal from the 2015 nuclear deal (JCPOA) is on the agenda, as the country's interests are preferred to remain in the nuclear deal.

Araghchi noted: "After U.S. withdrawal from JCPOA, they applied the most pressure and seriously follow new dimensions of sanctions on Iran, which is because Iran is a powerful country."

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"In response, Iran intellectually decided ways to pass the sanctions and made some opportunities for other members of the JCPOA," Araghchi mentioned.

Following the interview, Abbas Araghchi said: "We activated all mechanisms in JCPOA, the common commission had meetings four times during last year. Countries remaining in the deal have committed to compensate effects of the U.S. withdrawal." 

"They admitted in their statements to serve the interests of Iran in operational ways in fields of finance and banking, oil and gas, petrochemical products, transportation, investment, business, etc. The JCPOA remained, but European countries were not that much successful in practical activities," Deputy Foreign Minister continued.

Iran's move has been faced with so many reactions worldwide

The 19 European think-tanks, including the Institute for International Relations and Foreign Policy of London, Paris, Brussels, Berlin, Rome, Madrid and Prague, urged the US President Donald Trump to revise his stance toward JCPOA and the Islamic Republic of Iran, Iran Press reported.

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Guterres hopes Iran nuclear deal can be preserved: UN Spox

UN Secretary-General called JCPOA a major achievement in nuclear nonproliferation and diplomacy, hopes it can be preserved.

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Spain supports Iran's new stance on nuclear deal

The Spanish Foreign Minister Joseph Borrell, has said Iran's new policy in relation to JCPOA is within the framework of the 2015 nuclear deal with the major world powers.104/203

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