trending Market Intelligence /marketintelligence/en/news-insights/trending/dou5hqapkzkjy4pr3kznsa2 content esgSubNav
In This List

Pompeo outlines US demands on Iran, warns of 'strongest sanctions in history'

Blog

Using ESG Analysis to Support a Sustainable Future

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook


Pompeo outlines US demands on Iran, warns of 'strongest sanctions in history'

U.S. Secretary of State Mike Pompeo warned Iran that it would face "the strongest sanctions in history" if it fails to change its behavior as he outlined Washington's demands following its withdrawal from an international agreement designed to prevent Tehran from developing nuclear weapons.

In a speech at the Heritage Foundation, Pompeo vowed to apply "unprecedented financial pressure" on Iran and outlined 12 "basic requirements" that the country must comply with in exchange for a new deal and sanctions relief.

"This sting of sanctions will be painful if the regime does not change its course from the unacceptable and unproductive path it has chosen to one that rejoins the league of nations. These will indeed end up being the strongest sanctions in history when we are complete," Pompeo said.

Washington's demands include Iran halting its ballistic and nuclear missile programs, Iranian forces pulling out from Syria and the country releasing detained U.S. citizens. The U.S. also wants Tehran to end its support of terrorist and militant groups and cease threats to regional neighbors including Israel and Saudi Arabia.

Pompeo said the U.S. is prepared to lift the sanctions against Iran and restore full diplomatic and commercial relationships if it agrees to make "major changes." He also said the U.S. is ready to support the modernization of the Iranian economy and allow the country to have advanced technology.

"[R]elief from our efforts will come only when we see tangible, demonstrated and sustained shifts in Tehran's policies," Pompeo said.

President Donald Trump announced May 8 that the U.S. was withdrawing from the 2015 Iran nuclear deal, formally known as the Joint Comprehensive Plan of Action, and was resume sanctions that had been suspended under the accord.