New U.S. Sanctions Against Iran Go Into Effect

New U.S. Sanctions Against Iran Go Into Effect

New U.S. Sanctions Against Iran Go Into Effect

The United Arab Emirates' minister of state for foreign affairs, Anwar Gargash, said on Saturday that Iran's "aggressive policies" were "largely responsible" for the reimposition of USA sanctions on Tehran.

Deputy Minister Michael Oren, Israel's former ambassador to the USA, also praised the reimposed sanctions as "a historic opportunity to amend the risky injustice of the Iran nuclear deal".

"Petrochemicals are key to our economy, and we stressed that if we're hit by the Iran sanctions, it would pose grave challenges to our whole economy", the official said, requesting anonymity due to the sensitivity of the issue. But Iranian people do not think like mullahs.

However, Iran's clerical rulers have dismissed concerns about the impact of sanctions on the country's economy. The deal limited Iran's enrichment of uranium. The Trump administration's decision to restore sanctions "is the sea change the Middle East has been waiting for", he said.

Brian Hook, the special adviser to the secretary of state and special representative for Iran, told PBS News that the USA is not looking to give any exceptions or waivers to its sanctions regime.

"All eyes will be on Iranian exports, whether there will be some cheating around USA sanctions, and on how quickly production will fall", said Riccardo Fabiani, an analyst for Energy Aspects.

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The top commander of Iran's elite Revolutionary Guards, Major General Mohammad Ali Jafari, said at the Tehran rally that Iran would resist and defeat a United States "psychological war" and the return of USA sanctions, meant to cripple the Islamic Republic's oil exports and financial institutions.

The US expects to have reduced Iranian oil exports by more than 1 million barrels even before Monday's tranche of economic penalties.

However, the United States is expected to give a short-term waiver to eight countries which could include India because of its commitment to significantly reduces the import of oil from Iran. "Sagging refining margins at a time of weak crude prices sends a very telling message to us that demand is underperforming", he said.

Speaking at a daily news briefing in Beijing, Chinese foreign ministry spokeswoman Hua Chunying said China's lawful trade cooperation with Iran should be respected, and expressed regret at the re-imposition of sanctions. That was one of the most ridiculous deals ever made by any country, at any time: "the Iran nuclear deal", he said.

Later a senior State Department official told reporters that the U.S. was ready for talks with Iran.

Mr Rouhani said on state TV on Monday his nation was is in a "situation of economic war" and was "confronting a bullying power". "But an alternative sourcing strategy needs to be worked out soon as the United States relaxation would be temporary and Washington would expect India to keep cutting imports from Iran to reach zero level", said an energy sector expert. "This is a substantial drop", she said, adding that the ultimate goal was to deprive the regime of revenue it gets from oil.

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