Trump Squeezes Iran As Nuclear Deadline Nears

By Amir Daftari

As Iran races against a looming European deadline for another nuclear deal, the Trump administration is escalating pressure by sanctioning Iranian companies and vessels linked to its oil exports, tightening the economic noose around Tehran.

The move on Thursday came just one day before the Iranian foreign minister was due to speak with France, Germany, and the U.K., the three European powers warning they could trigger U.N. "snapback" sanctions if Tehran fails to comply before the critical August cutoff.

Newsweek has reached out to the U.S. State Department and to the foreign ministries of Iran, France, Germany, and the U.K. for comment.

Why It Matters

The new U.S. sanctions target Iran's main revenue stream, limiting its ability to fund weapons programs, support regional proxies, and extend influence across the Middle East.

Europe's snapback threat adds diplomatic pressure, requiring Iran to resolve nuclear concerns and restore International Atomic Energy Agency (IAEA) cooperation by August 31 or face renewed U.N. penalties.

The combined economic and diplomatic measures highlight the global stakes of Iran's nuclear activities and the risks to regional stability.

What To Know

The U.S. sanctions target what officials describe as a global oil-smuggling network helping Tehran evade restrictions. At the center is Greek national Antonios Margaritis, accused of managing shipping companies and vessels that moved millions of barrels of sanctioned Iranian crude.

Thirteen other firms based in Hong Kong, China, the United Arab Emirates and the Marshall Islands were also blacklisted for allegedly facilitating these shipments, often through ship-to-ship transfers designed to disguise the oil's origin.

U.S. Treasury Secretary Scott Bessent said the move "degrades Tehran's ability to fund its advanced weapons programs, support terrorist groups, and threaten the safety of our troops and our allies."

Snapback Talks

In parallel, Iran's Foreign Minister Abbas Araghchi was set to hold a phone call with his French, German and British counterparts on Friday, joined by the EU's foreign policy chief, in an effort to avoid the "snapback" mechanism that would reimpose U.N. sanctions on Tehran for its failure to comply with the 2015 nuclear deal, known as the Joint Comprehensive Plan of Action, which terminates in October.

The three European powers had warned in a letter earlier this month that unless Iran found a "satisfactory solution" to address nuclear compliance, they would move forward with the process.

IAEA Oversight

The nuclear standoff deepens amid Iran's suspension of cooperation with the IAEA, leaving the watchdog's inspectors unable to track enrichment now believed to be at 60 percent purity—just short of weapons-grade.

The JCPOA sought to cap enrichments levels at 3.67 percent, enough for nuclear energy purposes. Iran, however, insists its program remains solely civilian in nature, arguing it is the only non-nuclear-armed nation enriching uranium to that level.

What People Are Saying

U.S. Secretary of the Treasury Scott Bessent: "Today's action against Margaritis and his network degrades Tehran's ability to fund its advanced weapons programs, support terrorist groups, and threaten the safety of our troops and our allies."

Iranian Foreign Ministry spokesman Esmaeil Baqaei: "Based on the coordination made, Iranian Foreign Minister Seyyed Abbas Araghchi and foreign ministers of France, Britain, Germany, and EU Foreign Policy Chief Kaja Kallas will hold a telephone conversation on Friday to discuss issues related to the removal of anti-Iran sanctions."

What Happens Next

With the August 31 European deadline approaching, Iran faces simultaneous pressure from U.S. sanctions and the potential return of sweeping U.N. sanctions on its economy.

Oil revenue streams are constrained, and ongoing diplomatic negotiations with European powers and the IAEA will determine whether Tehran can avert further punishment, leaving the country in a tense and high-stakes standoff with the international community.