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Iran sanctions: USA grants oil exemptions for several countries

05 November 2018

US President Donald Trump announced his decision to withdraw from the Iranian nuclear deal in May, along with the plans to reimpose its sanctions against Iran that had been lifted under the agreement.

Pompeo said more than 20 countries have already cut their oil imports from Iran, reducing purchases by more than 1 million barrels per day.

"We are standing up to a bullying enemy", said Iranian President Hassan Rouhani. The U.N.'s atomic energy agency, which was tasked with monitoring the implementation of the agreement, has certified in multiple reports that Iran is in compliance.

"America wanted to cut to zero Iran's oil sales. but we will continue to sell our oil.to break sanctions", Rouhani said.

This is the second tranche of American sanctions on Iran since President Donald Trump made a decision to pull the US out of the Iran nuclear deal, which aims to stop the Iranian government from developing nuclear weapons.

Some of the banks designated on Monday have served as "financial conduits" for the Ministry of Defense and Armed Forces Logistics and the Islamic Republic of Iran Broadcasting, according to the USA government.

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"These sanctions have already had an enormous impact", Pompeo said, adding that Trump's policy will be "fully in place" as of Monday.

US Secretary of State Mike Pompeo and other Administration officials have described the penalties as the "toughest sanctions ever placed" on Iran.

The exemptions are created to last up to 180 days.

However, a South Korean official told Reuters early on November 5 that it had been granted a waiver after it asked for "maximum flexibility" from Washington.

China denounced new United States sanctions targeting Iran's oil and financial sectors as "long-arm jurisdiction" on Monday and vowed to continue its bilateral trade with the Islamic republic.

Mr Trump's administration says it wants a new deal with Iran that curbs its interventions around the Middle East and missile programme - demands that have been flatly rejected by Teheran.

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Deputy Commander of Iran's IRGC has issued new threats against the United States, hours before additional sanctions come into play against the Islamic Republic. Iran denies the allegations.

They end all the benefits that Tehran won from the USA in that agreement, and particularly target the Iranian oil industry, an important crutch for the country's moribund economy.

"We're going to have sanctions that even go beyond this". Iran's Revolutionary Guards Corps are among the forces participating. Thank you, President Trump, for this historic move.

Turkish Trade Minister Ruhsar Pekcan said on Saturday that Turkey had received indications that it would be among the countries granted a waiver, but was still awaiting clarification on Monday.

"America has launched an economic and psychological war as a last resort".

"We are in the war situation", Rouhani said.

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During the annual UN gathering of world leaders in September, Trump chaired a council meeting that focused heavily on Iran, laying bare the rift between the United States and other powers on the nuclear deal. This round specifically targets over 700 Iranian entities and assets including: 50 Iranian banks, Iran Air, as well as numerous people and vessels in the country's shipping sector.

Iran sanctions: USA grants oil exemptions for several countries