USA exempts three Iranian nuclear sites from sanctions

Open to new deal with Iran: Trump

The Obama administration had lifted sanctions on entities dealing with those sectors as part of the 2015 nuclear deal, which exchanged sanctions relief for a rollback in Iran's nuclear program.

"Treasury's imposition of unprecedented financial pressure on Iran should make clear to the Iranian regime that they will face mounting financial isolation and economic stagnation until they fundamentally change their destabilizing behavior", said Treasury Secretary Steven Mnuchin in a statement.

The list includes 50 Iranian banks, 200 individuals and shipping vessels tied to Iran's shipping and energy sector, as well as the national airline, Iran Air, and more than 65 of its aircraft. "This is not about hurting the people of Iran, but we will not let money be diverted to humanitarian purposes and then put for terrorist activities". "So that's a pretty big impact for a country which derives 80% of its tax revenue from oil imports".

Trump said in a statement Friday that the goal is to force Iran's leaders to choose either to abandon what he calls Iran's "destructive behavior" or to "continue down the path toward economic disaster".

Combined output from Russian Federation, the United States and Saudi Arabia rose above 33 million bpd for the first time in October, up 10 million bpd since 2010, with all three pumping at or near record volumes. "The question is will the buyers be willing to defy the USA and risk sanctions", he said. Officially, Washington does not name these countries, however, according to media reports, it is, in particular, about Italy, India, Japan, South Korea, Turkey and China.

"Eight countries will receive sanctions waivers, however, including four of Iran's top oil consumers: India, China, South Korea and Japan", the Jerusalem Post acknowledges, referring to the new USA restrictions.

Iran's economy has faced stagnant growth and high unemployment, even after sanctions were lifted following the nuclear deal it negotiated with world powers.

"America wanted to cut to zero Iran's oil sales. but we will continue to sell our oil.to break sanctions", Rouhani said.

"We are at an economic war situation".

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There was no immediate statement from the Ministry of External Affairs but sources in New Delhi said this was the result of hectic negotiations over the last six months with USA officials.

U.S. president Trump has taken a hardline against Iran since taking office. Other parties to the deal, including Britain, France, Germany, China and Russian Federation, have said they will not leave the deal.

In Iran, the return of sanctions is construed by the authority as evidence that the United States does not know how to keep your word. "We will take a look at the letter and respond accordingly", he said. External Affairs minister Sushma Swaraj and Pompeo had discussed the issue of oil imports from Iran.

Trump administration provides details on sanctions against Iran that snapped back into place on Monday.

The eight countries given temporary exemptions from the sanctions to ensure crude oil prices are not destabilised will deposit Iran's revenue in an escrow account and the funds will be used for humanitarian purposes, according to United States officials.

"It's taken out about half of Iran's crude oil exports through November, by our estimates, relative to the exports they were putting onto the market in June", he explained. US West Texas Intermediate (WTI) crude futures were at $62.98 a barrel, down 12c from their last settlement. But traders and analysts say that figure could rise from December as importers use their waivers. Many should choose the United States, or have already done so.

To continue to sell their crude to tankers the iranians have made in the last few weeks to turn off their transponders so as not to be spotted, but of the satellite to the trap.

"We have to make Americans understand that they can not talk to the great Iranian nation with the language of pressure and sanctions", Rouhani said in televised remarks.

"That's why they want us to round up our missiles".

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