Iran president warns of 'war situation' as sanctions resume

Open to new deal with Iran: Trump

Open to new deal with Iran: Trump

The European Union also said it is opposed to the USA decision, under which the second batch of sanctions targeting Iran's oil and financial sectors were put into effect.

Trump told reporters Sunday as he left the White House for political rallies in the South that the sanctions, which include an oil embargo, are the strongest ever imposed by the United States.

U.S. president Donald Trump has said that the United States sanctions will hit Iran in a "big way" from 5 November, asserting that the "toughest-ever" punitive measures have been put in place for a "corrupt regime" in Tehran.

"America wanted to cut to zero Iran's oil sales ... but we will continue to sell our oil ... to break sanctions", he said.

For example, the United States does not want to have India and South Korea move geopolitically closer to China, Russia and other competitors and away from its influence. "The whole world understands these sanctions are real", he said during an interview of CBS's Face the Nation.

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Controversy arose when the sanctions were announced in terms of Iran's access to the SWIFT financial system and its potential to bypass the sanctions through it. "No one's going to argue that Secretary Pompeo isn't tough on Iran and no one is going to argue that President Trump isn't doing the same".

As part of the new round of measures, the White House has warned Iran's customers they must reduce their purchases of oil to zero or face US penalties, although it has issued 180-day waivers to eight "jurisdictions" that will allow them to continue importing Iranian oil.

Global benchmark Brent crude had fallen about 15 per cent from over $85 a barrel in October on speculation that some nations would get waivers, as well as signs that other Opec members would pump more to offset any supply gap. "Iran is a much different country since I terminated that deal".

Second, although Saudi Arabia has said it will increase capacity by more than a million barrels...

However, analysts doubt this will materially lessen the impact of sanctions on Iran.

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The other parties to the nuclear deal see it as an important bulwark against the risk of wider war in the Middle East and have reaffirmed their commitment to it. Iran has said it could leave the pact if the European Union cannot protect its economic benefits. "The administration already leveled one major round of sanctions in August; now, it is restoring the complete set of sanctions - and even adding hundreds of names to the list, according to Treasury Secretary Steven Mnuchin".

Asked if the U.S. had firm commitments from India and China to stop all oil purchases from Iran within six months, Pompeo replied: "Watch what we do".

The US is seeking to "alter" Iranian behavior with the sanctions, and has been leaking out a stream of 12 demands it wants to see Iran agree to in exchange for re-lifting the economic penalties.

India and South Korea do not border Iran, but they both rely heavily on its oil and they are important countries to overall U.S. interests.

Students at the government-organised march in the capital burned pictures of Donald Trump, the US President, and the US flag to mark the seizure of the US Embassy during the 1979 Islamic Revolution.

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