US imposes sanctions on Iran’s metals

US President Donald Trump has raised the pressure on Iran on the day Tehran said it was suspending some commitments to a landmark nuclear agreement.

An executive order issued by Trump covers Iran’s iron, steel, aluminium, and copper sectors, the government’s largest non-petroleum-related sources of export revenue and 10 percent of its export economy, a White House statement said.

“Tehran can expect further actions unless it fundamentally alters its conduct,” Trump said.

But he also said he hoped to meet Iran's leaders to work out a deal.

"I look forward to someday meeting with the leaders of Iran in order to work out an agreement and, very importantly, taking steps to give Iran the future it deserves," he said.

Iran's move to curb compliance with the 2015 international deal is an apparent bid to thwart the US sanctions policy.

The UK, France and Germany - the Western parties to the agreement - warned Iran not to abandon the accord.

They criticised Iran's "unwelcome" step and said they could only continue supporting the deal if Iran stuck to its commitments.

The 2015 accord was intended to curb Iran's nuclear ambitions in return for relief from sanctions.

The US has already set in place a strategy on Iran's oil exports which it says is intended to bring a halt to all sales worldwide.

Tensions between the two countries were already high when the Trump administration said last weekend that it was deploying a carrier strike group and bombers to the Middle East in response to what it said were “troubling indications and warnings” from Iran.

On Wednesday, a senior administration official said the United States was “not escalating militarily against Iran” and accused Iran of being “provocative.” It was in Iran’s best interests to continue complying with the pact, the official said.

Iran's economy has been badly hit by the US policy. The value of Iran's currency has dropped to record lows and its annual inflation rate has quadrupled.

Iran said it would resume the sales after 60 days if the parties observed financial and oil commitments and opposed the sanctions.

But it also said it still supported the agreement.