"We are … working to build a global coalition to counter Iran’s malign activity. What I can tell you very specifically is that we have made it very clear that we’re going to aggressively enforce this executive order and the other authorities that we have pursuant to statute. We will work with countries around the world to do so, but make no mistake about it, we are very intent on using these authorities," the official told reporters.
The senior administration official said the first wave of reimposed sanctions would target Iran's acquisition of dollar bank notes, trade in gold and other metals, transactions related to the Iranian rial, and purchases of commercial passenger aircraft, the official said. The second wave of sanctions will target Iran's oil exports and energy sector, financial institutions and the shipping sector, the official added.
"The new Iran EO [Executive Order] reimposes relevant provisions of five Iran sanctions executive orders that were revoked or amended in January 16, 2016 in 2 phases. The first wind down period ends at midnight tonight, at which point relevant sanctions will be reimposed," the official told reporters during a conference call. "After the 180-day wind-down period ends of November 4, 2018, the US government will reimpose the remaining sanctions that had been previously lifted under the JCPOA."
READ MORE: Iran to Ease Currency Exchange Regulations Ahead of US Sanctions
On May 8, US President Donald Trump announced that Washington was withdrawing from the 2015 Iran nuclear deal and would be reinstating sanctions on Tehran. The decision gave foreign companies grace periods of 90 to 180 days to stop trading with Iran.