US reimposes first round of sanctions on Iran

By Michael Hernandez

WASHINGTON (AA) - The U.S. on Monday moved to reimpose the first wave of pre-nuclear deal sanctions on Iran, largely targeting the country's banking sector.

A senior administration official told reporters the economic penalties, which will be rigorously enforced, will go into effect at one minute after midnight (0401 GMT) Tuesday morning.

The sanctions target Tehran's acquisition of U.S. dollars, precious metals trade, transactions related to Iran's rial, activities related to Iran's sovereign debt, and the country's automotive sector.