Sweeping Iran sanctions target oil, banks

WASHINGTON: Iran's oil exports and financial transactions will be targeted under US sanctions that take force Monday, six months after President Donald Trump bolted from a nuclear deal.

Three days ahead, Washington detailed its specific actions targeting Iran's banking, shipping and energy sectors, threatening penalties against companies, even those of US allies in Europe and elsewhere, who do business in them.

The sanctions bring back the punitive measures that were imposed and then lifted by former president Barack Obama, who reached an international agreement under which Iran moved to end its nuclear program.