Trump has 'disgraced' United States prestige: Iran's Khamenei

Minnie Murray
November 4, 2018

FILE - A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf, Iran, July 25, 2005.

The Trump administration on Friday announced the reimposition of all United States sanctions on Iran that had been lifted under the 2015 nuclear deal - but with an exemption for eight oil-buying nations that could include China.

His tweet refers to the U.S. reinstating sanctions against Iran, which were previously removed under the 2015 nuclear deal.

Thousands of Iranians chanting "Death to America" rallied on Sunday to mark the anniversary of the seizure of the U.S. Embassy during the 1979 Islamic Revolution and the imminent reimposition of U.S. sanctions on Iran's oil sector.

The United States will also add 700 individuals and entities to its Iran blacklist and pressure the global SWIFT banking network to cut off Tehran when the sanctions are put back in place next week, U.S. officials said. Pompeo said eight nations will receive "temporary allotments" from the sanctions due to their ongoing cooperation with the United States.

President Donald Trump withdrew from the nuclear deal, formally known as the Joint Comprehensive Plan of Action, earlier this year.

The US sanctions on Iran are part of US President Donald Trump's effort to force Tehran to curb its nuclear and missile programmes.

In May, the Trump administration announced the restoration of sanctions against Iran.

U.S. sanctions against importers of Iranian oil threaten the crude oil market´s precarious balance and risk surging prices, all under Saudi Arabia´s watchful gaze, according to experts.

President Donald Trump said the U.S. remains open to reaching a comprehensive deal with Iran that blocks its nuclear weapons programme, just days before sanctions on the country's energy and shipping sectors kick back in. Some said they're already used to them, while others chose to downplay the effect.

The US Treasury also confirmed that the main worldwide financial messaging network SWIFT would face penalties if sanctioned institutions are permitted to use it. "We have the knowledge and the capability to manage the country's economic affairs", Iran's Foreign Ministry spokesman, Bahram Qasemi, told state television.

Announcing the imposition of sanctions targeting Iran's oil and gas exports, ports and banking system, secretary of state Mike Pompeo said that the USA will grant waivers to "eight jurisdictions" because they had "demonstrated significant reductions in crude oil and cooperation on many other fronts". "We have advised SWIFT that it must disconnect any Iranian financial institutions that we designate as soon as technologically feasible to avoid sanctions exposure".

"Maximum pressure means maximum pressure", Pompeo said. He added it was pacing its actions to cut off the flow of crude oil according to the pace of additional supply of oil expected to come on the market from Russian Federation, the U.S. and Saudi Arabia early next year.

In a speech on Saturday, Khamenei said Trump's policies faced opposition around the world.

"Iran is a formidable adversary, well practised in different techniques to keep selling oil and muddle the data, but that won't be a panacea for everything", said Rome.

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