U.S. President Donald Trump issued a presidential memorandum restoring his “maximum pressure” campaign on Iran in an attempt to prevent the nation from acquiring nuclear weapons. The memorandum directs the U.S. Treasury and State Departments to use sanctions and enforcement mechanisms to reduce Iran’s oil exports to zero. Iran's oil exports brought in $53 billion in 2023, according to the U.S. Energy Information Agency. The president also asked U.S. allies to “snapback” international sanctions on Iran that were lifted by the 2015 Joint Comprehensive Plan of Action (JCPOA).