Iran: Efforts to Preserve Economic Benefits of the Nuclear Deal [Updated February 26, 2019] [open pdf - 482KB]
"On May 8, 2018, President Trump announced that the United States would cease implementing U.S. commitments under the 2015 multilateral Joint Comprehensive Plan of Action (JCPOA) with Iran. On November 5, 2018, at the end of a 'wind down period,' all pre-JCPOA U.S. sanctions on foreign firms that conduct transactions in all of Iran's core economic sectors, including energy, banking, shipping, and manufacturing, went back into effect. These include sanctions on 'petroleum-related transactions' and transactions by foreign banks with Iran's Central Bank. In addition, foreign firms that transact business with entities designated by the United States for sanctions could face virtual exclusion from the U.S. economy."
CRS In Focus, IF10916
Congressional Research Service: https://crsreports.congress.gov/