The U.S. imposed sanctions on Iranians involved in a “shadow banking” network engaged in money laundering, the Treasury Department announced Friday. The move marks an apparent reversal of policy, as the administration had ordered a pause on sanctions activity against Iran, according to a Wall Street Journal report published Monday.
President Donald Trump in February re-imposed a “maximum pressure” campaign against Iran but said he hoped Washington and Tehran could avoid conflict and make a deal instead. The White House is trying to strike an agreement with Iran that would put limits on its nuclear energy program in exchange for sanctions relief.
The Wall Street Journal editorial board, in its report on the sanctions pause, criticized the administration for deviating from maximum pressure. “Why press the brakes now, when pressure is needed most to get a deal worth making?” On Friday, the Journal struck a triumphant tone. “It’s remarkable what a little sunlight can do,” the editorial board wrote, noting they had heard by Tuesday that the pause was being reversed.
The new sanctions also target entities in Hong Kong and the United Arab Emirates.
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