Iran’s President Hassan Rouhani has ordered military and economic sanctions against the countries countries military, economic and nuclear facilities, and imposed economic sanctions on oil exporters and oil and gas companies.
He has also threatened to impose additional sanctions on companies and individuals in the oil and petrochemical sectors.
Rouhani has been in office for less than a year, and his first foreign trip as President was in April of 2017.
Iran’s military, which was responsible for the military operations in Yemen and Iraq, are responsible for over 40 percent of the countrys defense budget.
According to a report by The Financial Times, the US and the European Union have imposed sanctions on 11 Iranian entities and individuals, including one of the biggest oil companies, Aramco.
In April, the United Nations Security Council unanimously adopted a resolution calling for the “full and complete dismantlement of all Iran’s ballistic missiles and ballistic missile delivery systems, including ballistic missiles, ballistic missile submarines, and ballistic missiles-related infrastructure.”
The United States has also been looking at other nations sanctions lists that may target the country, including those related to oil, energy and nuclear programs.
On Monday, the UN Security Council voted on a resolution that would impose additional financial sanctions on Iran’s oil and oil products companies.
The sanctions could target individuals, companies and entities, including: Iran oil companies: Oil and gas exports to the United States, Russia, Europe and Canada would be targeted by US sanctions; Iran petroleum companies: oil, gas, and mineral exploration in Iran would be restricted and the United States could impose additional US sanctions against individuals and companies, including companies that conduct business in Iran; companys and individuals that have an active presence in Iran, including the petroleum ministry and the oil industry, and company and individuals who are in the petroleum industry; a number of oil and energy companies in the United Arab Emirates; Aramco, the largest oil and natural gas producer in the world, would be affected by US military sanctions, including restrictions on the production and use of petroleum products in the country; The country’s oil industry and its subsidiary Aramco will be affected if sanctions are imposed; and a major oilfield in Saudi Arabia and Iran would also be hit if sanctions were imposed.
Meanwhile, the World Bank has estimated that Iran’s total annual trade revenue is $2.4 trillion, and that of the United Kingdom, $1.4 billion.
Additionally, Iran has also been hit by US and European sanctions in recent years, including sanctions in 2016 and 2017 that hit the oil export infrastructure and some energy companies.