The Iranian regime has a choice. It can either do a 180 degree turn from its outlaw course of action, and act like a normal country, or it can see its economy crumble. We hope a new agreement with Iran is possible. But until Iran makes changes, in the twelve ways that I listed in May, we will be relentless in exerting pressure on the regime.
As a reflection of that resolve, today we're reimposing all sanctions that were previously lifted under the nuclear deal. This includes sanctions on energy, banking, shipping, and shipbuilding industries. Since back in May, over 100 companies have withdrawn from Iran or cancelled plans to do business there. It should be noted that if a company evades our sanctions routine, and secretly continues sanctionable commerce in the Islamic Republic, the United Sates will levy severe swift penalties on it, including potential sanctions.
The regime to date, since May, has lost over $2.5 billion in oil revenue. We have decided to issue temporary allotments to a handful of countries responsible to the specific circumstances and to ensure a well-supplied oil market. The US will be granting these exemptions to China, India, Italy, Greece, Japan, South Korea, Taiwan, and Turkey.