U.S. President Donald Trump decided on Wednesday to revoke Iraq's exemption to import electricity and gas from Iran. He also decided to prevent Tehran from "exploiting Baghdad's funds.

This decision was part of a memorandum signed by Trump aimed at exerting maximum pressure on Iran.

The memorandum included "revoking the exemption granted to Iraq to import electricity and gas from Iran and preventing Iran from exploiting Iraqi funds.

The memorandum also included "taking immediate steps, in coordination with the Secretary of the Treasury and other relevant agencies, to ensure that the Iraqi financial system is not used by Iran to evade or circumvent sanctions, and preventing Gulf states from being used as shipping points to evade sanctions.