(VOVworld) - The Obama administration is preparing to impose its first financial sanctions on Iran since it forged a landmark nuclear agreement in July.

US Secretary of State John Kerry meets with Iranian Foreign Minister Mohammad Javad Zarif at the UN in September. (Photo: Craig Ruttle/AP)

The planned action by the Treasury Department, US officials told “The Wall Street Journal”, is directed at nearly a dozen companies and individuals in Iran, Hong Kong, and the United Arab Emirates for their alleged role in developing Iran’s ballistic-missile program.

Once the nuclear deal comes into force, Tehran can return to the international financial system, receive billions of USD from frozen accounts at international banks, and increase the number of oil transactions with other countries.