President Donald Trump announced new sanctions against Iran Monday in part to retaliate after the downing of a US drone last week, with the punitive measures set to target Iran's Supreme Leader, military officials and its top diplomat, Foreign Minister Javad Zarif.
The US State and Treasury departments on Friday sanctioned 14 individuals and 17 entities linked to SPND, Iran's organization for defense, innovation and research.
President Donald Trump has warned that countries doing business with Iran will "NOT be doing business with the United States" as his administration reimposed sanctions on Iran Tuesday.
Daimler has abandoned plans to expand in Iran as U.S. sanctions targeting the country snap back into place.
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The Trump administration signaled for the first time it might consider exemptions from U.S. sanctions for countries as they reduce their dependency on Iranian oil.
One of the biggest buyers of Iranian oil is unlikely to comply in full with U.S. demands to reduce imports to zero.
Turkish President Recep Tayyip Erdogan personally intervened in a scheme that allowed Iran to dodge U.S. and UN sanctions, a gold trader with ties to the Turkish government claimed in explosive court testimony in New York on Thursday.