Iran's economy has been hit hard by the US blockade

The Dhaka Times Desk The United States has announced new sanctions on 18 banks and financial institutions in Iran. Iran's economy is severely affected by the US blockade.

On October 8, US Treasury Secretary Steven Mnuchin announced the imposition of sanctions against Iran. Despite objections from Europeans and others, the country's economy has been hit hard by new US sanctions against Iran. Iran's economy was already running under the blockade given by the United States, and the new blockade is against virtually all the economic sectors of Iran, especially the 18 banks of Iran have been blacklisted by the administration of the President of the United States of America, Donald Trump. For that reason, the tension with European countries and others will also increase around Iran.

Previously, these 18 Iranian banks were not under US sanctions. No one outside can now work with them due to the new blacklisting. Basically, Iran has been cut off from the international financial sector.

Announcing the sanctions, US Treasury Secretary Steven Mnuchin said the sanctions are against Iran's financial sector and 18 major banks.

Our sanctions against Iran will continue until it stops supporting its terrorist activities and ending its nuclear program. He also said that this sector acts as a major means of financing the government in Iran's harmful activities.

According to the news, under the agreement signed in 2015 called the Joint Comprehensive Plan of Action on Iran's nuclear program, Iran got some benefits or concessions. However, by closing that facility, the United States continued to impose various sanctions against Iran one after another.

There had been talk of a new blockade for weeks. However, some of the European Union countries that signed the agreement did not support such a proposal of the United States. Despite this, such punitive measures have been taken against Iran.

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