Iran sanctions: four decades of Western pressure
Apr 18, 2024
With Iran facing the possibility of further punitive measures after its direct attack on Israel on April 13, here is a timeline of the sanctions imposed:
Iran's President Ebrahim Raisi attends a military parade alongside high-ranking officials and commanders during a ceremony marking the country's annual army day in Tehran on April 17, 2024. (Photo by AFP)
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____________________ An Iranian woman counts dollars in the change office in Tehran on April 17, 2024. Iran's exchange rate, especially against the dollar, stays low, influenced by economic policies and global relations, impacting trade advantages and economic stability. An Iranian military truck carries missiles during a military parade as part of a ceremony marking the country's annual army day in Tehran on April 17, 2024.
In the 45 years since the Islamic revolution in Iran, Western powers have used a punishing array of sanctions against Tehran in a bid to force a change of approach.
With Iran facing the possibility of further punitive measures after its direct attack on Israel on April 13, here is a timeline of the sanctions imposed:
1979: hostage crisis
In November 1979, Iranian revolutionary students stormed the US embassy in Tehran and took 52 people hostage.
In 1980, midway through the 444-day-long crisis, Washington broke off diplomatic relations with Iran and imposes restrictions on commerce and travel.
1983: Beirut bombing
In 1983, 241 US Marines were killed in a suicide truck bombing in the Lebanese capital Beirut. Minutes later, a second bombing kills 58 French troops.
In 1984, the United States blacklists Iran by labelling it a "state sponsor of terrorism" over its suspected role in the attacks.
Three years later, in 1987, US President Ronald Reagan banned all Iranian imports and curbed some US exports to the country, over attacks on US vessels in the Gulf.
1995: US trade embargo
In 1995, US President Bill Clinton ordered a total trade and financial embargo on Iran, accusing it of backing terrorism and seeking to acquire weapons of mass destruction.
Foreign companies who invest in Iran's oil sector are targeted.
2005: nuclear enrichment
Fears that Iran is trying to develop nuclear weapons intensified in 2005, as newly elected hardline president Mahmoud Ahmadinejad ended a freeze on uranium enrichment.
Between 2006 and 2010, the United Nations adopted four rounds of economic and trade sanctions against entities linked to Iran's nuclear and ballistic programmes and froze their assets.
In October 2007, the United States announces a raft of new sanctions on Tehran targeting its military and banking sectors.
In 2009, Washington banned US banks from serving as intermediaries in the transfer of funds between Iranian entities and offshore banks.
In this period, Iran, which has always denied any ambition to develop nuclear weapons, is also placed under an arms embargo.
2010-12: financial pain
Between 2010 and 2012, the UN and US imposed further sanctions on Iran.
In June 2010, Washington targeted Iran's ability to import refined petroleum products, as well as tightening sanctions on its energy sector and access to global banking.
In 2012, the Obama administration ruled that Washington could punish banks and other financial institutions buying oil from Iran.
The EU, meanwhile, bans technical assistance or the transfer of oil technology to Iran, imposes a ban on purchasing Iranian oil, and freezes hundreds of assets including those of Iran's central bank.
2015: nuclear deal
Negotiators reached a historic deal in 2015 which provides for a progressive lifting of the nuclear-related sanctions imposed since 2006, in exchange for Tehran limiting its nuclear programme.
In 2018, US President Donald Trump walked away from the deal.
Trump reimposes sanctions on Iran and companies with ties to it, hitting the central bank and oil sector.
In April 2019, Washington designates Iran's Islamic Revolutionary Guard Corps as a "terrorist" organisation.
2022-23: crackdown punished
Iranian authorities crack down on women-led mass protests that erupted after the September 16, 2022 death in custody of Mahsa Amini, arrested for an alleged violation of the Islamic republic's strict dress code.
Washington and Brussels impose new sanctions in response to the deadly crackdown and mass arrests.
2024: attack on Israel
Iran launches missiles and drones at Israel in retaliation for a deadly Damascus strike, in the first direct Iranian attack on its arch-foe's territory.
The United States said on April 16, days after the weekend attack, that it will "soon" impose new sanctions on Iran's missile and drone programme, and that it expects allies and partners to follow with parallel measures.
The EU also says it is working on tougher sanctions.
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