US Reimposes Sanctions on Iran's Oil, Financial Sectors

Down with US’ Trump effigy & dollars burned in Iran as protesters decry sanctions return

Down with US’ Trump effigy & dollars burned in Iran as protesters decry sanctions return

The United States officially reimposed all penalties that had been lifted as part of the Iranian nuclear deal as the Trump administration added almost 700 targets, including 50 Iranian financial institutions, to a sanctions list Monday.

'We'll see what happens with Iran.

The US imposed strict sanctions on Iran's vital energy sector on Monday, which were lifted under Iran's 2015 nuclear deal with major powers.

The United States announced a new raft of sanctions on Iran on Monday and threatened further action to pressure its old adversary, steps the Islamic Republic condemned as "economic war" and vowed to defy.

He also called the sanctions that went into effect on Monday "fruitless" and part of the USA propaganda and psychological war against Iran.

Secretary of State Mike Pompeo and Treasury Secretary Steven Mnuchin are due to provide more details about the sanctions at a morning news conference. Meanwhile, a trade war between the world's two biggest economies stoked concern that fuel demand would suffer even as President Donald Trump said he wants to reach a pact with China. The waivers were only given to countries that are seriously trying to cut out their imports of Iranian oil.

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"But until Iran makes changes in the 12 ways that I listed in May, we will be relentless in exerting pressure on the regime", he said.

"The decision made by the United States is absurd and very unsafe in its consequences as it derails one the most important global agreement approved by the UN Security Council", Ulyanov said.

"US bullying is backfiring".

German and European resistance to United States sanctions on Iran appears to be failing, in an apparent victory for Donald Trump's foreign policy.

Foreign Ministry spokeswoman Hua Chunying told reporters on Monday that the accord "should be comprehensively and effectively implemented" despite the fact that the United States pulled out of it in May.

All of the other signatories - China, the European Union, France, Germany, Iran, Russia, and the United Kingdom - have remained in the deal despite the US action.

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"We believe that China's normal cooperation (with Iran) within worldwide law is legal and legitimate, and this shall be respected". "I promise you that doing business with Iran in defiance of our sanctions will ultimately be a much more painful business decision".

Diplomats told Reuters last month that a new European Union mechanism to facilitate payments for Iranian oil exports should be legally in place by November 4 but not operational until early next year.

Why does the U.S. claim Iran is the "world's largest state sponsor of terrorism"? As long as Iran met its obligations under the deal, Britain would be committed to it too.

Rouhani then noted another victory for Iran, in which the U.S. was forced to agree to let eight countries, including Japan, India and South Korea, keep buying Iranian oil after the re-imposition of sanctions on November 5, even though Trump had previously vowed to cut Iran's oil sales to zero. We have this success from political view... today all countries in the world, except a few number of countries, are against the USA and stand beside Iran.

Oil markets have been preparing for the sanctions for months. We've got Brent crude at about the same price it was back in May when the president announced the withdrawal from the JCPOA.

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