US president warns against doing business with Iran

By Merve Aydogan

ANKARA

U.S. President Donald Trump on Tuesday warned against doing business with Iran after Washington imposed the first round of pre-nuclear deal sanctions on Iran, largely targeting the country’s banking sector.

"The Iran sanctions have officially been cast. These are the most biting sanctions ever imposed, and in November they ratchet up to yet another level. Anyone doing business with Iran will NOT be doing business with the United States," Trump wrote on Twitter.

"I am asking for WORLD PEACE, nothing less," he added.

Trump’s tweet came shortly after the European Union and heavyweight members Germany, France, and Britain on Monday expressed "deep" regret and vowed to protect Europeans doing "legitimate" business with Iran.

The sanctions against Iran follow Trump's decision May 8 to withdraw the U.S. from the 2015 Joint Comprehensive Plan of Action (JCPOA) that world powers, including the U.S, struck with Iran.

The agreement placed unprecedented curbs on Iran's nuclear program, subjecting it to a rigorous inspection regime in exchange for billions of dollars in relief from international sanctions.

A second wave of sanctions is set to take effect Nov. 5, targeting Iran's port operators, petroleum-related transactions, and Iran's shipping sector and central bank.