US President Donald Trump renewed his "maximum pressure" campaign on Iran on Monday, which includes efforts to reduce the country's oil exports to zero to prevent Tehran from obtaining a nuclear weapon.
Ahead of a meeting with Israeli Prime Minister Benjamin Netanyahu, Trump signed a presidential memorandum that reimposes Washington's tough policy toward Iran that was practiced during his first term.
As he signed the memorandum, Trump described it as very strong and said he was unsure whether to take action. He said Iran cannot have nuclear weapons and that he hoped a deal could be reached with Tehran.
Trump accused former US President Joseph Biden of failing to rigorously enforce sanctions on Iranian oil exports, adding that Tehran had been emboldened by being allowed to sell oil to fund its nuclear weapons program and armed militias in the Middle East.
Iran is "dramatically" accelerating its enrichment of uranium to 60 percent purity, close to the level of about 90 percent needed for nuclear weapons, the head of the United Nations (UN) agency told Reuters in December. Iran denies it wants to develop nuclear weapons.
Trump's memorandum, among other things, directs the US Treasury Secretary to impose "maximum economic pressure" on Iran, including sanctions and enforcement mechanisms for those who violate existing sanctions.
It also directs the Treasury Department and the State Department to conduct a campaign aimed at "reducing Iran's oil exports to zero."
Trump told reporters he was willing to meet with the Iranian president to try to persuade Tehran to abandon its efforts to develop nuclear weapons.
The US president also said he had instructed his advisers to destroy Iran if that country orchestrated his assassination.
"If they do that, they will be wiped out," Trump told reporters as he signed an executive order imposing maximum pressure on Tehran. "I left instructions that if they do that, they will be wiped out, there will be nothing left."
The Justice Department announced in federal charges in November that it had thwarted an Iranian plot to assassinate Trump before the presidential election.
Oil exports brought Tehran $53 billion in 2023, up from $54 billion the year before, according to data from the U.S. Energy Information Administration. Production in 2024 was at its highest level since 2018, OPEC data showed.
Trump reduced Iranian oil exports to near zero during part of his first term after reimposing sanctions. Exports have increased during Biden's term as Iran has managed to circumvent sanctions.
China does not recognize US sanctions and Chinese firms buy most of Iran's oil. China and Iran have also built a trading system that uses mostly the Chinese yuan and a network of intermediaries, avoiding the dollar and exposure to US regulators.
Trump also ordered the US ambassador to the UN to work with allies to restore sanctions and restrictions on Iran, which were lifted under a 2015 deal between Iran and key world powers in exchange for limits on Tehran's nuclear program.
The US withdrew from the deal in 2018, during Trump's first term, and Iran began to backtrack on its nuclear commitments under the deal. The Trump administration also tried to reimpose sanctions in 2020, but the UN Security Council rejected that.
Britain, France and Germany told the UN Security Council in December that they were ready - if necessary - to trigger a swift reimposition of international sanctions on Iran to prevent the country from obtaining nuclear weapons.
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