Jan 14, 2021 06:33 UTC
  • A week before Trump's term ends, US Treasury imposes new sanctions on Iranian foundations

In its final days in power, the hawkish administration of lame-duck US President Donald Trump has imposed new sanctions on Iranian foundations.

According to Press TV, the US on Wednesday blacklisted two Iranian foundations and their subsidies, claiming the institutions kept the ownership over large parts of the country’s economy.

The designations announced by the US Treasury Department target the state organization Execution of Imam Khomeini’s Order (EIKO), and Astan Quds Razavi (AQR), an organization that manages the holy shrine of Imam Reza (PBUH), the eighth Shias' Imam.

The sanctions, which also target the foundations’ leaders and subsidiaries, freeze assets of those targeted and threaten anyone engaging in certain transactions with those individuals with US sanctions.

The fresh sanctions are the latest action to reinforce the failed “maximum pressure” campaign on Iran pursued by the Trump administration.

Tensions have risen between Iran and the US after Trump unilaterally left a 2015 historic nuclear agreement between Iran and world powers, describing the deal, which was struck by his predecessor Barack Obama, as the worst ever negotiated.

The US administration also reinstated the sanctions that had been lifted against Iran under the deal, known as the Joint Comprehensive Plan of Action (JCPOA).

The fresh sanctions come in the final days of Republican Trump's term. He is due to hand over power to Democratic President-elect Joe Biden.

Biden, who is set to take office on January 20, has denounced Trump's withdrawal from the JCPOA.

He has also expressed willingness to return the United States to the nuclear deal.