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Trump extends Iran sanctions relief; oil trades near session highs

14 January 2018

Despite the agreement's extension, the Treasury Department announced a variety of new sanctions against Tehran, specifically targeting the regime's human rights abuses and support of terror organizations. Trump has complained that numerous Iranian restrictions expire next decade and has vacillated between talk of toughening the deal and pulling the USA out entirely.

Trump first called on the European nations to reopen the deal to modifications in October; there has been no sign that any party to the deal outside Trump is willing to do so.

Trump refused to recertify the deal in October and has threatened to withdraw the United States if what he calls serious flaws in the accord can not be fixed by USA lawmakers and US allies.

"This is a last chance", Trump said.

In a statement released on Saturday, the ministry said that US President Donald Trump once again had to extend waivers that are mandatory under the deal, officially called the Joint Comprehensive Plan of Action (JCPOA), PressTV reports.

Trump wants them to help the United States devise a new agreement created to prevent Iran from escalating nuclear activity again next decade, as permitted under the 2015 arrangement reached by former President Barack Obama.

The new terms Trump seeks with the European countries appear similar to actions he asked Congress to take three months ago but that Congress has not acted on. It also sanctioned agencies that censor or limit access to the Internet.

Trump on Friday extended the waivers of key economic sanctions that were lifted under the agreement limiting Iran's nuclear program.

While Trump approved a sanctions waiver, the treasury department chose to impose new, targeted sanctions against 14 Iranian entities and people.

Trump said this is the last chance, and in the absence of an agreement, the USA would not remain a party to the deal.

Some of those deadlines came up this week.

"But in his statement, the president will also make clear that this is the last such waiver that he will issue".

That balance is aimed at satisfying Trump's demand to raise pressure on Iran, while not embarking on a frontal assault on the most central trade-offs of the nuclear agreement. They argue that if the USA pulls out, Iran might kick out worldwide nuclear inspectors.

If Trump's fixes aren't met within 120 days, the White House signaled that the deal would be nixed altogether.

According to Trita Parsi, president of the National Iranian American Council, Trump is not necessarily backing away from his campaign promise to abandon the deal, but is instead attempting to kill it in an indirect way.

Trump extends Iran sanctions relief; oil trades near session highs