Rouhani says Iran will break U.S sanctions

Eileen GuzmanNov 07, 2018

The United States has banned nearly all direct USA dealings with Iran for decades.

Among the targets are 92 entities owned or controlled by Ghadir Investment Company, which the USA government had previously identified as an investment firm with ties to the Execution of Iman Khomeini's Order, a state-owned enterprise under direct control of Iran's Supreme Leader. The IAEA emphasized in its reports earlier that Iran was committed to the agreement and its nuclear activity was under strict control and subject to thorough checks.

Many of these companies were initially hit by Obama-era sanctions that were subsequently lifted when the United States entered the Iran nuclear deal in 2015.

"We are intent on making sure the Iranian regime stops siphoning its hard currency reserves into corrupt investments and the hands of terrorists".

In all, 700 Iranian entities were added to sanctions lists on Monday, according to US Treasury chief Steven Mnuchin.

Washington has said it will ensure a well supplied global oil market, with help from ally Saudi Arabia, as Iran oil is cut back. "We're working with other countries to get alternative supplies for countries that are buying and I think that's critical over an extended period of time".

Iran said it would defy USA sanctions reimposed on it by Washington on Monday. Iran's Revolutionary Guards Corps are among the forces participating.

Meanwhile, the expert was not optimistic about the possibility that Iran would negotiate another deal with the United States.

USA sanctions permit trade in humanitarian goods such as food and pharmaceuticals, but measures imposed on banks and trade restrictions could make such items more expensive.

Hedge fund managers were net sellers of petroleum-linked futures and options for a fifth week running last week as concerns about sanctions on Iran evaporated and investors refocused on economic worries. "Today the enemy (the United States) is targeting our economy. the main target of sanctions is our people", Rouhani said.

In a big relief for India, which is the third largest importer of crude oil in the world, U.S. has exempted it from oil sanctions on Iran along with seven other countries.

Iranian officials expressed their gratitude for South Korea's prior consultations on the sensitive issue, the source said.

"But U.S. bullying is backfiring, not just because JCPOA (nuclear deal) is important, but because the world can not allow Trump to destroy global order". Other parties to the deal, including Britain, France, Germany, China and Russian Federation, have said they will not leave the deal. "We will take a look at the letter and respond accordingly", he said. In September, there was no import of Iranian oil, according to the nation's state-run oil agency.

Israeli Prime Minister Benjamin Netanyahu, who vigorously opposed the Iran deal, praised the Trump administration for the new sanctions.

In an interview with "Fox News Sunday", Pompeo refused to reveal which countries received waivers from USA sanctions to continue importing Iranian oil. Oil prices rallied above $85 per barrel in October on fears of a steep decline in Iranian exports.

"Details of the sanctions will be released at a news conference scheduled for 8:30 a.m. ET with Secretary of State Mike Pompeo and".

The price pressure on oil has scared off financial traders. Many should choose the United States, or have already done so. Analysts say if it can not sell enough oil using conventional means, it may resort to large-scale smuggling overland.

The U.S. officials have come to the understanding that they could not replace the Iranian oil on the market, he said, adding that even if they did not grant waivers to some countries to keep trading oil with Iran, "we would still be able to sell our oil and we have adequate capabilities to do that".

"That's why they want us to round up our missiles".

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