22:57 GMT +320 November 2018
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    Trump Makes Determination to Continue Oil Embargo on Iran

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    WASHINGTON (Sputnik) - US President Donald Trump in a memorandum to members of his administration made the determination to continue the oil embargo on Iran.

    "I determine … that there is a sufficient supply of petroleum and petroleum products from countries other than Iran to permit a significant reduction in the volume of petroleum and petroleum products purchased from Iran by or through foreign financial institutions," Trump said in the memorandum on Wednesday.

    READ MORE: Trump Reportedly Rejects Invite to India Amid Rift Over S-400 and Iran Oil

    Trump added that he will continue to monitor the situation with respect to the oil embargo on Iran closely.

    The United States re-imposed sanctions on Iran after withdrawing from the 2015 nuclear agreement with that country in May, a move strongly condemned by Tehran.

    The first round of sanctions was re-introduced in August, but tougher restrictions mainly targeting the Iranian oil industry are expected to go in effect on November 5 as the United States seeks to squeeze Tehran out of the global energy market.

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    sanctions, embargo, oil, Donald Trump, Iran, United States
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