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“The Trump administration has dubbed an economic blockade on Iran as "Operation Economic Outcast", and is using sanctions to pressure Tehran to stop attacks on vessels in the Strait of Hormuz.”

“It noted that the US, Iran and allies would end military operations on "all fronts" and contained provisions including the end of a US naval blockade and sanctions relief.”

“OFAC said its settlement with the bank was tied to 475 apparent violations of sanctions programmes including those on Russia and Iran, narcotics, and global terrorism.”

“That is despite signing legislation to authorise fresh US sanctions and tariffs on nations that import Russian oil and gas just weeks ago.”

“Meanwhile, Spaniards have seen the US president threatening their prime minister with economic sanctions when he doesn't agree to Donald Trump's demands to increase defence spending to 5% of GDP or allow US bases in Spain to be used as part of attacks on Iran.”

“With the November mid-term elections in the US approaching and the Trump administration embroiled in the "quagmire" of the Iran war, Bustamante argues there is little appetite for further foreign adventures.”

“However, Trump pulled out of that deal in 2018, calling it "defective at its core", and reimposed all US sanctions on Iran.”