Iran will break U.S. sanctions and continue selling oil: President Rouhani

05 November, 2018, 23:35 | Author: Charlene Valdez
  • Khamenei Trump

The United States has granted exemptions to eight countries, including Turkey, allowing them to temporarily continue buying Iranian oil, Secretary of State Mike Pompeo said on November 5, as Washington reimposed sanctions on Iran's banking, energy and shipping industries.

The sanctions, removed in 2015 with the signing of the Iran nuclear deal but now re-introduced by President Trump, target the country's oil sector, which dominates the economy there.

What the sanctions target: Monday's measures completely restore all the United States sanctions that were lifted under the Iran nuclear deal.

The US has announced to provide temporary exemptions to eight countries including India and China from the Iranian sanctions noting that they have significantly reduced their import of Iranian oil.

South Korea has been granted a waiver from United States sanctions on Iranian oil, a government official said on Monday.

Pompeo and Treasury Secretary Steven Mnunchin jointly announced the new economic penalties, which the Donald Trump administration claims are the "largest ever single-day action targeting" Iran.

Iran will sell its oil despite United States sanctions - President Rouhani
If the United States had not granted waivers to China and some of the other countries, they would have also ignored the sanctions. The US has been gradually re-imposing sanctions, but analysts say this latest round is by far the most significant.

Mr Pompeo said more than 20 countries had already cut their oil imports from Iran. "We continue negotiations to get all of the nations to zero".

President Donald Trump's administration nonetheless issued eight exemptions from its demand on all countries to stop buying Iranian oil, the country's largest export, amid bitter global opposition to the unilateral USA sanctions.

He said privatizing state assets, for example, could free a significant portion of capital to be exploited by the public for new development plans.

China, which has been Trump's main sparring partner on the trade front, is Iran's main oil customer.

She also said China stood with those nations that have vowed to keep the agreement alive despite the USA withdrawal, and said Iran has been "strictly fulfilling its obligations" under the accord.

He added, Iran will never come close to a nuclear weapon on President Trump's watch. "[Iran] wanted to take over the whole Middle East".

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The Atomic Energy Organization of Iran also ended up on the USA government blacklist, as well as 23 associated subsidiaries and individuals, owing to the organization's intimate involvement in the country's nuclear research programs.

"Sanctions waivers being given to key purchasers of Iranian oil, most alarmingly China, give Iran a financial reprieve, and should be eliminated as soon as possible", Rubio said in a press release on Friday.

Well, Chris, the sanctions that will be reimposed tomorrow are the toughest sanctions ever put in place on the Islamic Republic of Iran. "We have to stand to win." the president said. The Europeans have mounted a drive to save the agreement without the U.S., fearing that the new sanctions will drive Iran to pull out and resume all of its nuclear work'.

National security adviser John Bolton on Monday said that sanctions have had an "enormous" effect on Iran's economy.

Noting that the sanctions' major impact "will be on the population and not on the government", and that the primary goal of the administration seems to be to cause pain that foments unrest within Iran, Parsi warned that although Iranian leadership is now still abiding by the JCPOA, "the main risk is that the Iranians will start concluding that perhaps they too should walk out of this deal, and then we'll have a really bad scenario because then the drum beats of war are gonna get very, very high again".

The sanctions end all the economic benefits America granted Tehran for its 2015 nuclear deal with world powers, though Iran continues to abide by the accord that saw it limit its enrichment of uranium.

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