At the GCC summit held on 21th in Riyadh, the US President Barak Obama said Tehran would continue to be “boxed-in” from US financial and travel restrictions against individual and firms visiting or investing in Iran. The American new sanctions came as a response to Iran’s deployment and testing of ballistic missiles and for supporting terrorism in the region.
The new American sanction against Iran came despite 5+1 powers and Iran signed nuclear deal last July and Washington lifted more sanctions last January.
US law makers have pushed for further sanctions on Iran following the chief of Iranian Revolutionary Corps (IRGC) Maj-Gen Muhammad Ali Jaafari vowed on April 5 to wage what he described as an “all-out war” against the US.
The new sanctions on Iran have barred individuals and firms from pursing deals with Iran on energy, aviation, constructions and other deals. Abided by the new sanctions on Iran, banks are refusing to finance any such deals.
US has also imposed visa regulations that make it harder for people to enter the US if they have travelled to Iran.