Iranian marchers chant 'Death to America' on eve of US oil sanctions

India Korea US Said to Agree Iran Oil Waiver Outline

"Iran's oil exports are falling rapidly, and perhaps more and more in the weeks to come", Fatih Birol, executive director at the International Energy Agency, said in a Bloomberg television interview.

The agreement saw Iran limit its controversial nuclear activities in exchange for sanctions relief.

Iranian state media claimed millions of people had turned out for rallies in most cities and towns around the country - a figure that has not yet been independently verified.

Trump also on Friday tweeted out a "menacing" poster-like image of himself with the words "Sanctions are coming November 5", apparently riffing on HBO's "Game of Thrones".

China, the largest buyer of Iranian oil, has been surprisingly willing to play ball with sanctions so far, in part because it has bigger fish to fry in the form of its ongoing trade war with Washington. Trump announced the U.S.'s withdrawal from what he described as "the frightful, one-sided" nuclear deal.

Analysts at a watchdog that monitors global oil shipments have revealed that they have been utterly exhausted from trying to track Iran's oil exports amid a looming USA embargo on the petrochemical sector.

Any sanctions would have had a major impact on India, given it's growing demand.

"Nitty gritty of this waiver will be announced eventually", said Pradhan.

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US Secretary of State Mike Pompeo, who announced the decision on Friday, did not identify the eight, which he referred to as "jurisdictions", a term that may include importers such as Taiwan which the US does not regard as a country.

Former foreign secretary Shashank told Oneindia, "See!"

He said: "America's goal has been to re-establish the domination it had (before 1979) but it has failed".

They said they deeply regretted the re-imposition of United States sanctions and were committed to the "preservation and maintenance of effective financial channels with Iran, and the continuation of Iran's export of oil and gas".

"We always stated that such sanctions could negatively impact peace, stability and economies in neighbouring countries like Turkey and we elaborated this reality during the talks with U.S. officials", said Turkish Energy and Natural Resources Minister Fatih Donmez, according to the country's state-run Anadolu news agency. Understanding the geopolitical situation, India has been able to get its way. "It is obviously impossible to exclude Iranian oil from the market", Kardor told ISNA.

Diplomats told Reuters last week that the new European Union mechanism to facilitate payments for Iranian exports should be legally in place by November 4 but not operational until early next year.

Having abandoned the 2015 Iran nuclear deal, President Donald Trump is trying to cripple Iran's oil-dependent economy and force Tehran to quash not only its nuclear ambitions and ballistic missile program but also its support for militant proxies in Syria, Yemen, Lebanon and other parts of the Middle East.

It is part of efforts by Iran and its customers to keep oil flowing ahead of a new USA embargo set to hit on Monday.

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