Published: Thu, August 09, 2018
People | By Leon Thompson

Iran vows to continue oil exports despite Trump's threats

Iran vows to continue oil exports despite Trump's threats

North Korea is under U.S. and United Nations sanctions over its nuclear weapons programme.

The first round of reimposed USA sanctions targeting Iran's aviation and auto industries, as well as its banking system snapped back on Tuesday.

USA sanctions on Iran's energy sector are to be re-imposed after a 180-day wind-down period ending on November 4.

Despite the political will to hold firm, many large European firms such as German automaker Daimler are leaving Iran for fear of USA penalties.

In comments carried by the Office of the President, Rouhani was said to have praised the two countries' "friendly and heartfelt relationship" and mutual support for each other, while warning that Washington should not be seen as trustworthy.

Later, Mr Zarif responded on Twitter by writing: "Tantrums & CAPPED TWEETS won't change the fact that the world is sick & exhausted of United States unilateralism".

Bolton explained that the sanctions will seek to reverse the damage done by the Obama administration's nuclear deal with Iran, which empowered the regime with billions in cash and access to the global financial system.

The first round of sanctions target the purchase or acquisition of USA dollars by the Iranian government.

European countries have also vowed to protect the nuclear deal by continuing to trade with Iran.

Saudi Arabia Punishes Canada for Criticizing Human Rights Defenders' Arrests
The Canadian dollar reacted negatively to the news, declining 0.12 percent against the U.S. dollar to just under 0.77 cents. The kingdom was still "considering additional measures" against Canada , said Jubeir, without elaborating.

"Anyone who knows anything about Iran's behavior knows that the Iranians escalate when they sense American mush and they back down when they perceive American steel".

The European Union has also unveiled a "blocking statute" meant to mitigate the impact of the USA sanctions on European firms doing legitimate business with Iran.

Turkey, however, said it would continue to buy natural gas from Iran.

BEIJING - China's business ties with Iran are open, transparent and lawful, its foreign ministry said on Wednesday, after US President Donald Trump said companies doing business with Iran would be barred from the United States.

In an interview with the Iran newspaper published on Wednesday, Mr Zarif said the Trump administration's stated aim of cutting Iranian oil exports to zero was "meaningless" and "impossible".

Rouhani hinted last month that Iran could block the Strait of Hormuz, a major oil shipping route, if the USA attempted to stop the Islamic Republic's oil exports.

"America has zigzagged constantly, so now no one trusts them", he said.

His visit to Iran is the first by a high-ranking DPRK delegation since August previous year, when President of the Presidium of the Supreme People's Assembly Kim Yong Nam and vice foreign minister Choe Hui Chol spent several days in the country.

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