Published: Wed, November 07, 2018
Worldwide | By Myra Stephens

Trump's Iran sanctions: European Union plans for workaround

Trump's Iran sanctions: European Union plans for workaround

Pompeo said more than 20 countries have already cut oil imports from Iran, reducing purchases by more than 1 million barrels per day. China, India, South Korea, Turkey, Italy, the United Arab Emirates and Japan have been the top importers of Iran's oil, while Taiwan occasionally buys Iranian crude.

"The Iranian regime has a choice: It can either do a 180-degree turn from its outlaw course of action and act like a normal country, or it can see its economy crumble", said Secretary of State Mike Pompeo.

The US granted the waiver to eight countries, including China and India, the biggest buyers of Iranian oil, to keep crude oil prices stable. "But on oil, we want to go a little bit slow because I don't want to drive the oil prices in the world up", Trump told reporters at Joint Base Andrews outside Washington on Monday before leaving on a campaign trail for the mid-term polls.

"They're the strongest sanctions we've ever imposed", said President Donald Trump en route to a rally in Georgia on Sunday evening, hours before the sanctions on Iran's energy, shipbuilding and banking sectors kicked in at midnight.

"We believe that China's normal cooperation (with Iran) within global law is legal and legitimate, and this shall be respected", Hua said.

Zarif said that the talks with the United States over a new nuclear agreement remains open if Washington changes its approach to the 2015 worldwide nuclear deal, Press TV reported. The sanctions have been reimposed in stages, with the final set going into effect on Monday.

"We are at an economic war situation". The price pressure on oil has scared off financial traders.

Iran's clerical rulers dismissed the curbs. "The agency does not have any complaints about it", Ulyanov said when asked about the agency's assessments in further reports on the JCPOA's implementation amid the new wave of USA sanctions.

The US State Department said the waivers do not include "civil nuclear projects" but that oversight projects at three of Iran's nuclear facilities - Arak, Bushehr, and Fordow - would continue for an unspecified, temporary period of time.

The Iranian official also stressed that Iran's allies are seeking to find ways of defeating USA sanctions. 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.

The US President said documents "conclusively" showing the Iranian regime was pursuing nuclear weapons informed his decision to pull out of the landmark nuclear agreement.

The U.S. embargo targets numerous country's "critical sectors" like energy, shipping, shipbuilding, and finance. The legislation also implies that European courts could nullify U.S. decisions regarding sanctions.

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