US sanctions on Iran begin:
Liberman: Trump will be remembered for generations

Defense Minister praises re-imposition of US sanctions on Iran, which go into effect tonight.

Gary Willig,

Flash 90

Defense Minister Avigdor Liberman praised the re-imposition of US sanctions on Iran, which will begin tonight.

The defense minister wrote on his Twitter account: "Tonight, the sanctions imposed by the American administration on Iran will enter into force. In a courageous decision that will be remembered for generations, US President Donald Trump has changed direction with regard to Iran. No more agreements and obsequiousness, but a determined struggle to stop the murderous ayatollahs regime, which spreads terror, violence and hatred throughout the Middle East."

In May, US President Donald Trump withdrew from the 2015 Iran nuclear agreement, re-imposing sanctions that had been suspended in return for curbs on Tehran's nuclear program.

The first round of sanctions will begin to take effect tonight, 90 days after Trump withdrew from the agreement. The sanctions target Iran's access to American dollars and steel and automobile industries, ban trade with Iran in gold and other precious metals, and include other sanctions which were lifted under the 2015 deal.

The second round of sanctions will take effect on November 4, 180 days after the US withdrew from the agreement. Those sanctions will target Iran's oil and shipping industries.

The US sanctions have taken their toll on the Iranian economy even before going into effect. Last week, the Iranian rial plunged to a record low of less than 1,000 to the American dollar.