US Treasury Department Headquarters in Washington DC (Photo: Xinhua/VNA)

Persons engaged in transactions that could be sanctioned under an executive order which targets the construction, mining, manufacturing, and textile sectors of the Iranian economy, have a 90-day period after the issuance of the order to wind down those transactions without exposure to sanctions, according to the statement.

The Treasury Department added that new transactions started after January 10 could be sanctioned even during the wind-down period. The period ends on April 9.