US Pres. Trump signs executive order putting new sanctions on Iran

Eren Sengezer FXStreet

U.S. President Donald Trump has recently announced that they have decided to impose new sanctions on Iran. "The sanctions are in response to the drone shootdown," Trump said and added that they want Iran to stop sponsoring terrorism. "Office of Iran's supreme leader will not be spared from sanctions. The U.S. Will not allow Iran to have nuclear weapons," Trump added.

With the initial reaction to this announcement, the barrel of West Texas Intermediate pulled away from its daily lows and was last seen trading at $57.15, losing 0.73% on a daily basis.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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