Sanctions against Iran  There have been a number of sanctions against Iran imposed by a number of countries, especially the United States, and international entities. The first sanctions were those imposed by the United States in November 1979 after a group of radical students seized the American Embassy in Tehran and took the people inside hostage. The sanctions by Executive Order 12170 included freezing about $12 billion in Iranian assets, including bank deposits, gold and other properties, and a trade embargo. These sanctions were lifted in January 1981 as part of the Algiers Accords, which was a negotiated settlement of the hostages’ release. The second sanctions by the United States were imposed under Ronald Reagan in 1987 because of Iran's actions from 1981 to 1987 against the U.S. and other shipping vessels in the Persian Gulf and support for terrorism. The sanctions were expanded in 1995 to include firms dealing with the Iranian government. The third sanctions were imposed in December 2006 pursuant to UNSC Resolution 1737 after Iran refused to comply with UNSC Resolution 1696 which demanded that Iran halt its uranium enrichment program. Initially, U.S. sanctions targeted investments in oil, gas, and petrochemicals, exports of refined petroleum products, and business dealings with the Islamic Revolutionary Guard Corps (IRGC). It encompassed banking and insurance transactions (including with the Central Bank of Iran), shipping, web-hosting services for commercial endeavors, and domain name registration services. Subsequent UN Resolutions have expanded sanctions against Iran. Over the years, sanctions have taken a serious toll on Iran's economy and people. Since 1979, the United States has led international efforts to use sanctions to influence Iran's policies, including Iran's uranium enrichment program, which Western governments fear is intended for developing the capability to produce nuclear weapons. Iran counters that its nuclear program is for civilian purposes, including generating electricity and medical purposes. When nuclear talks between Iran and Western governments were stalled and seen as a failure, US senators cited them as a reason to enforce stronger economic sanctions on Iran. On 2 April 2015, the P5+1 and Iran, meeting in Lausanne, Switzerland, reached a provisional agreement on a framework that, once finalized and implemented, would lift most of the sanctions in exchange for limits on Iran's nuclear programs extending for at least ten years. The final agreement, the Joint Comprehensive Plan of Action, was adopted on 18 October 2015. As a result, UN sanctions were lifted on 16 January 2016. On 8 May 2018, U.S. President Donald Trump announced that the United States would withdraw from the Iran nuclear deal.