Oil report

CORRECTED-U.S. triggers effort to restore U.N. sanctions on Iran

(Removes the word “economic” in the second paragraph to make clear penalties are not economic)

UNITED NATIONS, Aug 20 (Reuters) - The United States moved to restore all U.N. sanctions on Iran on Thursday, arguing Tehran was in violation of a nuclear deal it struck with world powers in 2015 even though Washington itself abandoned that agreement two years ago.

The United States submitted a letter to the 15-member U.N. Security Council alleging Iranian non-compliance, in theory starting a 30-day process that could lead to the “snapback” of U.N. sanctions even though major powers like Russia reject the U.S. stance and say they will not restore the penalties. (Reporting By Michelle Nichols, Arshad Mohammed and Daphne Psaledakis Writing by Arshad Mohammed)