Sputnik - US President Donald Trump in a memorandum to members of his administration made the determination to continue the oil embargo on Iran.



"I determine … that there is a sufficient supply of petroleum and petroleum products from countries other than Iran to permit a significant reduction in the volume of petroleum and petroleum products purchased from Iran by or through foreign financial institutions," Trump said in the memorandum on Wednesday.


Trump added that he will continue to monitor the situation with respect to the oil embargo on Iran closely.

The United States re-imposed sanctions on Iran after withdrawing from the 2015 nuclear agreement with that country in May, a move strongly condemned by Tehran.

The first round of sanctions was re-introduced in August, but tougher restrictions mainly targeting the Iranian oil industry are expected to go in effect on November 5 as the United States seeks to squeeze Tehran out of the global energy market.