The US is beginning to implement the second sanctions package for Iran on Monday, which covers energy, finance, and shipping sectors.

The US's first sanction package for Iran began on August 7, 2018. The second stage of the sanctions started as of 08.01 Turkiye time.

In the first of the sanctions, Iran was forbidden to buy US dollars and trade with gold and precious metals. Iran's coal, steel, aluminum trade, and the automotive sector had also been listed.

The imports of passenger aircraft and aircraft parts were also on the first sanction list, while restrictions were imposed on the transactions that Iran will carry out outside the country. Exports of handmade carpets and food products in Iran were also prohibited.

What does the second sanction package cover?

On the other hand, companies and sectors within the second sanction package started today includes; Iranian National Oil Company [NIOC], Iran Petroleum Trading Company and National Tanker Company, Iranian Port Operators, Iran Maritime Corporation [IRISL], Iran Central Bank and some Iranian financial institutions, transactions with intermediary and insurance companies.

The US President Trump signed a decree in August to impose sanctions on Iran on the US dollar and access to precious metals, to the energy sector, to the U.S. blacklist citizens, to the shipping and shipbuilding and port operations.

It was reported that the same sanctions are also valid for the second sanction package. (ILKHA)