US Secretary of State Mike Pompeo. (Photo: VNA)

After Tuesday, Iran will no longer be able to buy US banknotes and trade gold and other precious metals. The sanctions will also block Iran from selling or acquiring certain industrial metals, target Iran’s auto sector, and ban export of Persian carpets and pistachios to the US.  A second round of sanctions targeting Iran’s oil exports and energy and petrochemicals industries are scheduled to take effect in November.