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Investing.com -- On Tuesday, U.S. President Donald Trump is set to sign a presidential memorandum to reestablish his "maximum pressure" campaign against Iran, according to reports from Reuters, citing an official from the U.S. government. The objective of this campaign is to prevent Iran from acquiring nuclear weapons and to reduce its oil exports to zero.
This move reinstates the stringent U.S. policy on Iran that President Trump, a Republican, implemented during his first term. The President has criticized his Democratic predecessor, former President Joe Biden, for allegedly weakening the U.S.’s stance on Iran.
The decision to toughen the approach towards Iran comes as Trump is scheduled to meet with Israeli Prime Minister Benjamin Netanyahu later on Tuesday.
The official revealed that Trump’s directive instructs the U.S. Treasury Secretary to impose "maximum economic pressure" on Iran. This includes implementing sanctions and enforcing penalties on those who violate existing sanctions.
As part of this escalated pressure campaign, the Trump administration plans to launch an initiative aimed at reducing Iran’s oil exports to zero. The country’s oil exports generated $53 billion in 2023 and $54 billion the previous year, as per estimates from the U.S. Energy Information Administration. In 2024, Iran’s oil output was at its highest since 2018, based on data from OPEC.
At the World Economic Forum in Davos last month, U.N. nuclear watchdog chief Rafael Grossi stated that Iran has been "pressing the gas pedal" on its enrichment of uranium to near weapons grade. Iran, however, has denied any intentions to create a nuclear weapon.
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