The Trump administration has made a big move to cut off 18 major banks in Iran from the international financial system. The U.S. says that Iran has been participating in "aggressive activities," so they are imposing sanctions to block Iran's access to funds.
The U.S. has declared a "snap-back" of UN sanctions on Iran that were lifted in 2015, although members of the UN are in disagreement with the U.S., saying that the U.S. does not have that power because they abandoned the nuclear deal in 2018.
The U.S. gave foreign companies 45 days to cease activities related to the targeted banks. Humanitarian transactions will be allowed, however some are saying that they would be skeptical to do business with Iran due to the risk of punishment.
The U.S. has since been accused of economic terrorism by the Iranian UN ambassador Majid Takht-Ravanchi. He said that this is a form of "state terrorism and economic and medical terrorism... carried out through unilateral coercive measures."
Mason Semmler
https://www.bbc.com/news/world-middle-east-54476894
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