China Vows To Continue Iran Trade Despite US Oil Sanctions

As the Trump administration restored all sanctions lifted under the nuclear deal demonstrators attended a rally in front

Iran's vice president Eshaq Jahangiri said the Tehran government hopes to continue exporting oil despite the U.S. sanctions.

Iran's economy was already suffering major structural problems - including widespread corruption, weak investment and a banking sector laden with toxic assets - before Trump walked out of the deal.

USA 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.

The reimposed sanctions will also target Iran's central bank and the country's shipping and shipbuilding sectors.

He added, "We have iron will to counter sanctions".

Meanwhile, in Tehran, demonstrators poured onto the streets to mark the 39 anniversary of the occupation of the US embassy there, an action that precipitated a protracted hostage standoff that helped tank President Carter's chances at re-election and almost took down the Reagan administration amid the Iran-Contra scandal.

Iranian President Hassan Rouhani struck a defiant tone after the US announcement vowing Tehran would "break USA embargoes as they are cruel and against United Nations regulations, pacts and resolutions".

"When I look at the list, it's obviously very large economies that still in many ways depend on Iran oil imports and at this time don't have any strong alternatives", said Brian Katulis, a senior fellow at Center for American Progress, a liberal think tank. He said the pressure "is only going to mount from here" unless Iran's leaders halt its support for terrorism and abandon its nuclear ambitions "immediately".

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.

Amazon has reportedly zeroed in on Northern Virginia for its second headquarters
Mike Grella, an economic development director at Amazon, wasn't happy about the Washington Post story, Bloomberg reported . People close to the process told The Post the talks were more in-depth than they had been with other locations.

Iran is among the countries which the United States is courting for stepped-up sales of the oilseed.

South Korea, the world's fifth-biggest crude oil buyer, mainly imports an ultralight form of crude oil, condensate, from Iran, which accounts for 74 percent of its oil purchases from that country.

Thousands of protesters gathered in front of the former U.S. Embassy, burning American flags and chanting "Death to America!" Iran can either change its behavior or see its economy collapse, he said.

The US imposed a first round of sanctions on Iran in August and Monday marked the second round of sanctions that went into effect.

India's oil minister Dharmendra Pradhan confirmed on Saturday that the country, Iran's top oil client after China, had won a waiver from the U.S. sanctions after a "forceful campaign" by prime minister Narendra Modi. "We must resist and win".

"This is an economic war against Iran".

Late last week, US government officials signaled that the United States would be granting waivers to eight countries to continue temporarily buying Iranian oil, on the condition that they had significantly reduced purchases from Iran.

The European Union, France, Germany and Britain said they regretted the USA decision and would seek to protect European companies doing legitimate business with Tehran.

To keep the deal alive, the remaining parties to the Iran accord are trying to maintain trade with Tehran, despite scepticism that this is possible. All of them lobbied heavily to be granted the six-month exemptions while promising to further reduce or end their imports and Secretary of State Mike Pompeo said the waivers were based on the specific circumstances of each and the need "to ensure a well-supplied oil market".

Related News:



Most liked

London police arrest 6 men in Grenfell Tower effigy video
Five people have been arrested in connection with an investigation into a video showing the burning of a Grenfell Tower model. The video, which is believed to have been recorded and shared on a messaging app, quickly went viral on Twitter.

Trump warns of 'fragile' victories in final midterm sprint
They do unbelievable work day in and day out in a fair and balanced way and it is an honor to work with such great professionals". The Fox News employees all spoke on the condition of anonymity because they were not authorized to publicly discuss the matter.

Election Day Deals: Show Your ‘I Voted’ Sticker For A Freebie
You can get a free cookie with any purchase at Potbelly Sandwich Shop on Tuesday (Election Day) or Wednesday of this week. Lime: Enter the code LIME2VOTE18 and unlock the Lime fleet of e-scooters from a free ride to and from voting locations.

Poms finally strike in Melbourne Cup - with the trifecta!
The Melbourne Cup witnessed a fourth death since 2013 as The Cliffsofmoher was euthanised on the track. It tarnished a thrilling win by Cross Counter, who saluted ahead of Marmelo and A Prince Of Arran .

Target unveils early look into its Black Friday deals
This means customers can skip the regular cashier lines and check out with any Target employee they see anywhere in the store. Consumers can also cash in on iPhone and Samsung phone activation with a free $300 gift card from the store.

Shaqiri omitted from Liverpool squad ahead of UCL clash in Belgrade
Red Star Belgrade comes into Tuesday's match at the bottom of Group C, amassing one point through three games played . Last season's runners-up are now top of Group C and one point clear of Napoli at the midway point of the group stage.

Promising rugby player (28) dies after eating slug on dare
The young rugby player ate the slug at a party in 2010 when aged only 19, unaware that the animal was infected with rat lungworm . Most people will develop no symptoms at all from ingesting the parasite and will fully recover without treatment.

People magazine names Idris Elba 2018's Sexiest Man Alive
This is only the third time a man of colour has won the award, following Johnson in 2016 and Denzel Washington 10 years before. We're just disappointed Shelton didn't fly out to London to hand him a " Sexiest Man Alive " crown or something.

His View: Birthright citizenship is wrong for America
Howard's comment defines the contemporary legal battleground regarding the newborn children of illegal immigrants. The US was in the grips of intense anti-Chinese sentiment, and Chinese immigration had been cut off in 1882.

Has Theresa May secured a breakthrough to seal a Brexit deal?
In a public message to Mr Varadkar, Ms McDonald warned the backstop "cannot be diluted". She wants a way of bringing it to an end.

Mexican drug lord El Chapo goes on trial in NY
US authorities have described the group as one of the most powerful drug trafficking organizations in the world. Jury selection is expected to take a few days with opening statements set to start on November 13.

Tom Brady Comes Tantalizingly Close, Falls Short Of 1,000 Career Rushing Yards
Hopefully it's not the beginning of what we've seen too many times before with this team and players who aren't available. The ageless Brady appears to be nearing the end of his career, one that has had plenty highs and the odd low.

Shaqiri left out Liverpool's squad for Belgrade trip due to safety concerns
The French champions go to Italy for a huge match later on Tuesday after Liverpool play. So for that reason, Shaq is not involved and he accepts and understands this.

Elementary School Teachers Dressed As MAGA Border Wall For Halloween
The photos were taken down from the Facebook page, but once screenshots began to circulate, the backlash began. According to 2017 census data , 9.5% of Middleton's population of about 7,400 are Hispanic or Latino.

Lionel Messi in Barcelona's squad to play Inter Milan in Champions League
We have to prepare for the game well. "My own contribution? My job is to score goals and help the team, thankfully I did that". Messi has missed the 5-1 win over Real Madrid and a 2-0 victory over Inter. "What we will not do is take any risks".