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Iran erupts as United States oil sanctions return

Iran erupts as United States oil sanctions return

Washington imposed sanctions against Iran on Monday, restoring measures lifted under a 2015 nuclear deal negotiated by the administration of former US president Barack Obama, and adding 300 new designations including Iran's oil, shipping, insurance and banking sectors.

US Secretary of State Mike Pompeo said on Sunday the penalties set to return on Monday "are the toughest sanctions ever put in place on the Islamic Republic of Iran".

Sunday's (November 4) demonstration comes as Washington prepares to restore sanctions lifted under the 2015 nuclear deal.

At a daily news briefing in Beijing, foreign ministry spokeswoman Hua Chunying did not directly comment on whether China had been granted exemption from the Iran sanctions by the United States.

Even close U.S. allies, including France and Germany, as well as Britain, have expressed their intention to continue trade with Iran without the use of the dollar. But Iranian people do not think like mullahs. Major Organization of the Petroleum Exporting Countries (Opec) producers won't be able to add more supply should it become necessary, particularly with production in Iran, Venezuela and Libya still at risk. For now, Iran continues to abide by the accord which saw it limit its enrichment of uranium.

Monday's sanctions are the second batch the Trump administration has reimposed on the Islamic Republic since it withdrew from the nuclear agreement earlier this year.

Rouhani pledged to government officials in his remarks that Iran would overcome the USA embargo.

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Thousands of Iranians chanted "death to America" at a rally in Tehran yesterday as the country's leaders remained defiant in the last hours before fresh USA sanctions came into force.

Rouhani insisted on state TV that Iran will "sell its oil and it will sell" despite the crippling sanctions.

South Korea said on Monday it had been granted a waiver, at least temporarily, to import condensate, a super-light form of crude oil, from Iran.

According to the analyst, Iranian officials are keen to turn the sanctions into an opportunity and a "big win" through weaning the country's economy off oil. "Sagging refining margins at a time of weak crude prices sends a very telling message to us that demand is underperforming", he said. He described the sanctions as the "strongest tool" the U.S. holds, before resorting to military means, to pressure the Iranian regime to adhere to its demands.

Later a senior State Department official told reporters that the USA was ready for talks with Iran.

In other words, China and the U.S. are already bleeding each other economically. But "Iran has weathered multiple rounds of sanctions before".

First, keep in mind that in addition to these countries, Russian Federation is thumbing its nose at the United States pressure campaign and is assisting Iran in a variety of ways economically. The reimposition of sanctions "is aimed at depriving the regime of the revenues it uses to spread death and destruction around the world", Pompeo said.


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