Story highlights The Trump administration is conducting a broad review of US Iran policy

The announcement effectively continues US participation in the Iran nuclear deal

Washington (CNN) The US will continue to waive certain economic sanctions on Iran's nuclear program while simultaneously implementing a new set of sanctions related to Iran's ballistic missile program, the State Department said in a statement Wednesday.

The announcement effectively continues US participation in the Iran nuclear deal -- officially known as the Joint Comprehensive Plan of Action or JCPOA -- for the time being, even as the Trump administration is conducting a broad review of US Iran policy.

Under the deal, the US and five other world powers agreed to lift sanctions in exchange for Iran rolling back its nuclear program.

Rather than permanently repealing US sanctions, which would have required congressional action, the Obama administration put a temporary hold on them, which must be periodically extended as long as Iran remains in compliance with the deal.

In a statement to reporters last month , Secretary of State Rex Tillerson acknowledged Iran's compliance, but chastised the Iranian government over its human rights record, its missile program, and support for the Assad regime in Syria.

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