US to slap sanctions on over two dozen targets tied to Iran arms – Reuters

Reuters, citing a senior US official, reports that the United States on Monday will sanction more than two dozen people and entities involved in Iran’s nuclear, missile and conventional arms programs.

Speaking on condition of anonymity, the official said Iran could have enough fissile material for a nuclear weapon by the end of the year and that Tehran has resumed long-range missile cooperation with nuclear-armed North Korea.

He did not provide detailed evidence regarding either assertion.

Key notes

• US to impose sanctions on more than 24 people, entities involved in Iran’s nuclear, missile and conventional arms programs on Monday, senior US the official says.
• US believes Iran may have enough fissile material for a nuclear bomb by end of the year, US official says.
• Iran, North Korea have resumed collaboration on long-range missile project, US official says.
• Trump to issue an executive order on Monday allowing US to sanction non-US actors who trade conventional arms with Iran – US official confirms.
• US taking these steps to enforce UN sanctions it argues have been restored believes foreign companies will wish to avoid risk of US penalties – US official says.

Market implications

There has been no immediate market impact but these are key developments that the oil market participants will be watching closely.