The United States reintroduced sanctions against Iranian oil on Monday while giving some of Washington's closest allies exemptions that allow Tehran's biggest customers, mostly in Asia, to keep buying crude for now. Washington has restored measures lifted under a 2015 nuclear deal negotiated with Tehran by the administration of President Barack Obama. President Donald Trump's administration added 300 new designations including Iran's oil, shipping, and insurance and banking sectors, aiming to cripple Iran's main export revenues from the petroleum industry.
GUEST: Sanusha Naidu – Senior Research Associate based with the Institute for Global Dialogue