US Sanctions on Iran Oil Sales Snap Back as Trump Fulfills Vow

A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Gulf

A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Gulf

As part of the new round of measures, the White House has warned Iran's customers they must reduce their purchases of oil to zero or face US penalties, although it has issued 180-day waivers to eight "jurisdictions" that will allow them to continue importing Iranian oil.

Defense Minister Avigdor Liberman praised US President Donald Trump's "bold" decision to reinstate all US sanctions on Iran that had been lifted under the 2015 nuclear deal.

South Korea, a U.S. ally and one of Asia's biggest buyers of Iranian oil, asked Washington for "maximum flexibility" last week, after some of its construction firms cancelled energy-related contracts in the Islamic Republic due to financing difficulties. Its national currency has plummeted over the past year, sending prices for everything from mobile phones to medicine skyrocketing.

These eight countries are among the top 20 oil importers from Iran, he told reporters.

Iran's supreme leader Ayatollah Ali Khamenei said Saturday that the biggest loser of all was the U.S. It included surface-to-air missiles shooting down a drone. The drill was to continue through Tuesday.

The US will from Monday target buyers of Iranian oil in order to deprive Tehran of its main source of income.

USA president Donald Trump has said that the U.S. sanctions will hit Iran in a "big way" from 5 November, asserting that the "toughest-ever" punitive measures have been put in place for a "corrupt regime" in Tehran. "The US has also been approached for increasing oil supplies if better terms were offered", said the official. We are confronting a bullying enemy.

File photo of United States president Donald Trump.

Monday's sanctions are the second batch the Trump administration has reimposed on the Islamic Republic since it withdrew from the nuclear agreement earlier this year. We've done all of this, too, Chris, while making sure that American consumers don't suffer. "We must resist and win", he said. The Iranian public is also expected to be affected by the economic sanctions. The economic chaos sparked mass anti-government protests at the end of past year which resulted in almost 5,000 reported arrests and at least 25 people being killed. Sporadic demonstrations still continue. The other signatories to the nuclear deal have demanded that Iran accede to the FATF.

"Don't be disillusioned about how painful this will be", says Ellie Geranmayeh, senior policy fellow at the European Council on Foreign Relations.

Thousands of Iranian students chanted "death to America" on the eve of the sanctions. "The whole world understands these sanctions are real", he said during an interview of CBS's Face the Nation.

"In a single move, the United States is dealing a critical blow to Iran's entrenchment in Syria, Lebanon, Gaza, Iraq and Yemen", the minister posted in a rare English-language tweet.

Few Iranians believe their government has the skill, or the political will, to get them out of this mess.

Saudi Arabia is the only country with the capacity to make up for lost Iranian oil production. Last week, Gen. Gholam Reza Jalali, the head of country's military unit in charge of combatting sabotage, said Rouhani's cellphone was tapped recently. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

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