Iran marks USA embassy siege on eve of sanctions

AFP  Atta Kenare

Secretary of State Michael Pompeo defended the temporary waivers granted to eight countries to continue buying Iranian crude oil for now against Congressional critics and others who say the being too lenient on the Islamic Republic.

"America wanted to cut to zero Iran's oil sales", but the Islamic Republic "will continue to sell" its oil "to break sanctions", Rouhani warned during a meeting with the economists, which was broadcast on TV.

Rouhani separately said leaders from "four powers" met with Iran on the sidelines of the September meeting of the United Nations General Assembly to try to save the deal, including brokering a possible meeting with Trump.

The sanctions aim to significantly cut Iran's oil exports - which have already fallen by around one million barrels a day since May - and cut it off from global finance.

Iranian President Hassan Rouhani speaks during parliament's open session on confidence vote for four new ministers, in Tehran, Iran, October 27, 2018.

Image copyright Getty Images Image caption Supreme Leader Ayatollah Ali Khamenei said the United States would not dominate Iran.

"The sanctions will force Iran's hand as Mike Pompeo argued that at the rate that the Iranian economy is declining, and protests are intensifying, it should be clear to the Iranian leadership that negotiations are the best way forward", said Dr. Albadr Al-Shateri, politics professor at the National Defense College in Abu Dhabi.

He also said Iranian oil exports had dropped by almost one million barrels a day, choking the main source of funding for the country.

"Switzerland is committed to safeguarding Swiss economic interests and closely follows the development of the situation".

The Trump administration's decision to restore sanctions "is the sea change the Middle East has been waiting for", he said.

Foreign Ministry spokeswoman Hua Chunying told reporters on Monday that the accord "should be comprehensively and effectively implemented" despite the fact that the United States pulled out of it in May.

The US wishes to weaken Iran and cause the Iranian nation to lose hope, but it will not succeed in doing either, said Rouhani, stressing that Iran will continue to grow and flourish through unity.

On Saturday night, Israeli Prime Minister Benjamin Netanyahu in a statement thanked U.S. President Donald Trump for reimposing the sanctions.

"Israel supports the USA sanctions against Iran, other states must support them as well in order to deter Iranian threat", Katz told reporters.

The sanctions cover Iran's banking and energy sectors and reinstate penalties for countries and companies in Europe, Asia and elsewhere that do not halt Iranian oil imports. "And we're going to provide that to them".

"We already live in the condition of sanctions".

The Iran nuclear deal was drawn up by the Obama administration and was agreed to by the UK, Russia, France, China, Germany and the EU. We've got Brent crude at about the same price it was back in May when the president announced the withdrawal from the JCPOA.