From a statement by the president issued by the White House:
Today, the United States is taking action to reimpose nuclear-related sanctions with respect to Iran that were lifted in connection with the Joint Comprehensive Plan of Action of July 14, 2015 (the “JCPOA”). These actions include reimposing sanctions on Iran’s automotive sector and on its trade in gold and precious metals, as well as sanctions related to the Iranian rial. These measures will take effect on August 7, 2018.
All remaining United States nuclear-related sanctions will resume effective November 5, 2018. These include sanctions targeting Iran’s energy sector, including petroleum-related transactions, as well as transactions by foreign financial institutions with the Central Bank of Iran . . .
My actions today – including my signing of an Executive Order entitled “Reimposing Certain Sanctions with Respect to Iran” – are consistent with National Security Presidential Memorandum-11 of May 8, 2018, announcing the withdrawal of the United States from the JCPOA.
The JCPOA, a horrible, one-sided deal, failed to achieve the fundamental objective of blocking all paths to an Iranian nuclear bomb, and it threw a lifeline of cash to a murderous dictatorship that has continued to spread bloodshed, violence, and chaos.
Since the deal was reached, Iran’s aggression has only increased. The regime has used the windfall of newly accessible funds it received under the JCPOA to build nuclear-capable missiles, fund terrorism, and fuel conflict across the Middle East and beyond.
To this day, Iran threatens the United States and our allies, undermines the international financial system, and supports terrorism and militant proxies around the world.