The US has reinstated all of the sanctions removed under the 2015 nuclear deal, which target core areas of the economy including oil exports, shipping and banks.

The sanctions, dubbed by American officials as the “toughest ever”, came into force on 5 November, six months after US President Donald Trump pulled out of the nuclear deal that had been struck between Iran and Western powers.

The US administration says it has reintroduced the sanctions to halt Iran’s “malign activities”, which it says include ballistic missile tests, supporting extremist groups throughout the Middle East and international cyber attacks.

More than 700 individuals, companies, ships and aircraft are on the new sanctions list. This includes shipping firms, major banks and oil exporting entities.

The White House did confirm on 2 November, however, that it was allowing eight countries to continue importing Iranian petroleum products for a transitional six-month period to ease pressure on oil markets and hydrocarbon prices.

Thousands of Iranians took to the streets in Tehran on 4 November to protest about the upcoming sanctions. The following day, Iran’s President Hassan Rouhani vowed to bypass US sanctions on its energy sector.

“Today, Iran is able to sell its oil and it will sell,” he said. “We are in an economic war situation. We are confronting the bullying enemy. We have to stand to win.”

Iran also launched a series of air defence drills in response to the imposition of sanctions, with Iranian state TV channels covering the military manoeuvres.