Trump tweets his plans to reimpose sanctions on Iranian regime

Trump tweets his plans to reimpose sanctions on Iranian regime

Trump tweets his plans to reimpose sanctions on Iranian regime

"Either abandon its destructive behaviour or continue down the path toward economic disaster".

The Trump administration is reinstating all USA sanctions on Iran that were removed under the 2015 nuclear deal.

Pointing to U.S. soldiers' "whimper of fear" in their encounter with Iran and the high number of American veterans who commit suicide because of depression, the IRGC chief said the USA power is on the wane.

The United States said on Friday it will temporarily allow eight importers to keep buying Iranian oil when it reimposes sanctions on Monday to try to force Iran to curb its nuclear, missile and regional activities.

Prices have been under pressure as world oil production has been rising significantly in the past two months. Beyond that point, anyone unloading a tanker from Iran risks the full wrath of the United States government.

Turkey has been told it will temporarily be allowed to keep buying Iranian oil, its energy minister told reporters on November 2.

Trump denounced the nuclear deal, signed before he took office, as flawed in Iran's favour and withdrew Washington from the pact in May.

On Monday, November 5, the U.S. will not only be re-imposing the sanctions that were in place before the insane Iranian nuclear deal was entered into, but there'll be over several hundred designations, Pompeo said. The sanctions, which go into effect at midnight on November 5, are "aimed at depriving the regime of the revenues that it uses to spread death and destruction around the world", said Secretary of State Mike Pompeo in a Friday conference call with reporters.

But the Trump administration ultimately seeks to squeeze Iran's sales towards "zero" - potentially leaving a gap that even major producers like Saudi Arabia would struggle to fill.

"India said to the U.S. that they can´t stop before March, they are facing a major currency crisis", explained Joel Hancock, analyst at Natixis.

These countries include India, Japan and South Korea.

General Qassem Soleimani, commander of the elite Iranian Revolutionary Guards' Quds Force that oversees its operations overseas, responded to Trump's Game of Thrones-inspired tweet on Friday that warned, "Sanctions are Coming". About 1.76 million barrels a day were exported in October, more than is pumped from the North Sea.

The deal was greeted at the time with relief and excitement by Iranians who had seen their economy crushed by the restrictions on trade. The region's intake of Iranian crude has nonetheless wilted.

"European companies have fled Iran in great numbers".

In a Face the Nation interview that aired Sunday, Pompeo told John Dickerson emphasized that "they will be the toughest sanctions ever placed against the Islamic republic of Iran". Under U.S. law, such exceptions can only be granted for up to 180 days.

Iran's First Vice President Es'haq Jahangiri was quoted by media as saying that the government of President Hassan Rouhani had already devised mechanisms to counter the impacts of returning United States sanctions against the country's oil exports.

But they could still end up squeezing global oil supply.

So when Iran exports oil to a country in the European Union, the company from the receiving country would pay into the SPV.

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