Embargo against Iran

Following the Iranian Revolution of 1979, the United States imposed economic sanctions against Iran and expanded them in 1995 to include firms dealing with the Iranian government. In 2006, the UN Security Council passed Resolution 1696 and imposed sanctions after Iran refused to suspend its uranium enrichment program. U.S. sanctions initially targeted investments in oil, gas, and petrochemicals, exports of refined petroleum products, and business dealings with the Iranian Revolutionary Guard Corps. This encompasses banking and insurance transactions (including with the Central Bank of Iran), shipping, web-hosting services for commercial endeavors, and domain name registration services.

Over the years, sanctions have taken a serious toll on Iran's economy and people. Since 1979, the United States has led international efforts to use sanctions to influence Iran's policies, including Iran's uranium enrichment program, which Western governments fear is intended for developing the capability to produce nuclear weapons. Iran counters that its nuclear program is for civilian purposes, including generating electricity and medical purposes.

When nuclear talks between Iran and Western governments were stalled and seen as a failure, they were cited as a reason to enforce stronger economic sanctions on Iran. On 2 April 2015, the P5+1 and Iran, meeting in Lausanne, Switzerland, reached a provisional agreement on a framework that, once finalized and implemented, would lift most of the sanctions in exchange for limits on Iran's nuclear programs extending for at least ten years. As a result, UN sanctions were lifted on 16 January 2016.

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