Iran accuses Washington of violating memorandum of understanding after new sanctions

Iranian Foreign Minister Abbas Araghchi said the United States violated the memorandum of understanding between the two countries after imposing new sanctions targeting a financial intermediary and Iranian exchange companies. Araghchi said in a statement on Saturday that Iran had fulfilled its commitments under the memorandum, while Washington violated article nine, which prohibits imposing new sanctions in return for Tehran's commitment to its nuclear program. "Iran has fulfilled its commitments, but the United States has violated article nine of the memorandum of understanding, which stipulates that no new sanctions will be imposed in return for Iran maintaining the status quo of its nuclear program."

The Iranian statements came in response to an announcement by the U.S. Treasury Department imposing sanctions on a financial intermediary and several exchange companies on charges of facilitating the transfer of billions of dollars to Iranian banks under sanctions. The department said the sanctions come after accusing Iran of resuming attacks on commercial shipping in the Strait of Hormuz, confirming continued economic pressure on Iran. The impact of the sanctions on Iraqi citizens raises questions about their repercussions on Iraq, especially given the shared economic and financial relations with Iran, and whether the Iraqi government will take measures to protect the interests of citizens and local companies.

For his part, U.S. Treasury Secretary Scott Bessent said his country will continue to isolate what it described as the "elite of the Iranian regime" from the global financial system, while preserving assets for the benefit of the Iranian people.