Published: Tue, November 06, 2018
Worldwide | By Angelina Lucas

We will 'break sanctions proudly': Rouhani

We will 'break sanctions proudly': Rouhani

The US chose to reimpose the sanctions after US President Donald Trump withdrew from the 2015 Iran nuclear deal earlier this year.

The deal - agreed by the US, China, Russia, France, Germany and the United Kingdom - brought about the lifting of most worldwide financial and economic sanctions on Iran in return for Tehran curbing its disputed nuclear activity under UN surveillance.

Washington imposed sanctions against Iran on Monday, restoring measures lifted under a 2015 nuclear deal negotiated by the administration of former USA president Barack Obama, and adding 300 new designations including Iran's oil, shipping, insurance and banking sectors.

In an interview with "Fox News Sunday", Pompeo refused to reveal which countries received waivers from US sanctions to continue importing Iranian oil.

China, Greece, India, Italy, Japan, South Korea and Taiwan were also granted exemptions that will allow them to continue importing Iranian crude oil.

Washington has restored measures lifted under a 2015 nuclear deal negotiated with Tehran by the administration of President Barack Obama.

The United States officially reimposed all penalties that had been lifted as part of the Iranian nuclear deal as the Trump administration added almost 700 targets, including 50 Iranian financial institutions, to a sanctions list Monday. SUBSCRIBE NOW and hit the bell to be the first in the know.

US 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.

US Secretary of State Mike Pompeo said on Sunday the penalties returning on Monday were "the toughest sanctions ever put in place on the Islamic Republic of Iran".

They seek to limit Iran's ability to export oil, essentially by excluding companies which trade Iranian oil from doing business in the US.

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He called on Iran's leaders to immediately give up support for terrorism, stop proliferating ballistic missiles, end destructive regional meddling and abandon their nuclear ambitions in order to escape the crushing sanctions.

The International Monetary Fund forecasts that U.S. sanctions will cause Iran's economy to contract 1.5 per cent this year and 3.6 per cent next year - pain that Trump has boasted about as he touts his record ahead of Tuesday's congressional elections.

US officials did not immediately make an announcement as the sanctions took force in the early morning hours of November 5, part of Washington's effort to ramp up pressure on Tehran to "change its behavior" and end what the United States says is its "malign" activities in the region.

"We are in the economic war situation".

Before travelling to a campaign rally for the United States midterm elections, President Trump said Iran was already struggling under his administration's policies.

'We are in the economic war situation.

"In general, one can say that the interests of nuclear nonproliferation are not placed in the hierarchy of Washington's foreign policy priorities as high as it is declared, otherwise the United States would not have acted so irresponsibly and defiantly", he concluded. 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.

But proponents as well as the other parties to the deal - Britain, China, France, Germany, Russia and the European Union - have vehemently defended it. "Right now they just want to survive".

And Iran's President Hassan Rouhani has greeted the move by ordering air defence drills.

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