Iran will 'proudly bypass' US sanctions: Rouhani

Anna Jefferson
November 6, 2018

The second, and final round of, United States sanctions go into effect on Monday, specifically targeting Iran's crude oil exports, shipping and ports and the financial system.

"Iran is a much different country than it was when I took office", said Trump, adding: "They wanted to take over the whole Middle East".

This year´s 39th anniversary fell just hours before Washington was set to reimpose sanctions - including an oil embargo - following its withdrawal from the 2015 nuclear deal earlier this year.

The reimposition of the sanctions comes as the United States is focused on US congressional and gubernatorial elections on Tuesday.

Aside from economic opportunities, Trump White House critics claim Washington's exit from the Iran nuclear deal and the renewal of sanctions would reignite Tehran's nuclear ambitions.

"The expected United States waiver for India is a good development that should allow the country to continue getting its share of oil on attractive terms from Iran.

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The authorities are in direct contact with the competent authorities of the United States, the European Union and Iran", the State Secretariat for Economic Affairs (SECO) said.

The US side was unmoved.

Iraq and Turkey have also previously said they expect to receive waivers, while news agencies have reported that Afghanistan, India, Italy, and Japan were likely to be granted exemptions. Dr. Molavi believes that the banking sector will be the first to feel a significant negative effect from the sanctions, but in the future Iran, using circumvention mechanisms, will be able to circumvent this barrier.

Oil is Iran's main source of income. Watch as we've already taken more crude oil off the market than any time in previous history.

More than 100 worldwide companies have pulled their business from Iran due to the further sanctions.

"India said to the USA that they can't stop before March, they are facing a major currency crisis", explained Joel Hancock, analyst at Natixis. "But they're not doing very well", he said, referring to the economic setbacks the country has already faced because of an earlier round of USA sanctions.

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"America has launched an economic and psychological war as a last resort". "These sanctions hit at the core areas of Iran's economy, and they are necessary to spur changes we seek on the part of the regime".

Iranian oil exports have fallen by about a million barrels a day in that time, though India and China have continued to purchase it.

And in recent days US Treasury Secretary Steven Mnuchin said the US would "aggressively" target any firm or organisation "evading our sanctions".

"That's right", he said to a question if the U.S. actions will apply to companies that do business with Iran and not countries.

U.S. President Donald Trump announced in May that his administration was withdrawing from what he called the "worst ever" agreement negotiated by the United States.

The countries will deposit Iran's revenue in an escrow account, US officials have said.

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"America's goal in taking all these measures has been to regain the domination it had" prior to Iran's 1979 Islamic revolution that overthrew the pro-Western shah, Khamenei said.

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