Iranian protesters attack Islamic school as sanctions loom

Iranian protesters attack Islamic school as sanctions loom

Sporadic protests were taking place in cities in Iran for a fourth day, with demonstrators attacking a Shi'ite seminary west of Tehran, according to Iranian news agencies and social media on Saturday, as Iranians brace for a return of U.S. sanctions.

Interestingly, China has also rejected a USA request to cut imports from its biggest customer, Iran, for the sake of fulfilling US president Donald Trump's objective of achieving a complete halt of outgoing Iranian crude supplies; China's rejection would presumably lessen the chance of a market tightening that many analysts are still anxious about and consequently help keep prices relatively low - which is what Trump was demanding from the Organization of the Petroleum Exporting Countries (OPEC).

The protests have often begun with slogans against the high cost of living and alleged financial corruption but quickly turned into anti-government rallies.

Last month, state-run Hindustan Petroleum had to cancel an Iranian oil shipment as insurers were not willing to provide cover for its two refineries for processing Iranian oil, sources with knowledge of the matter said.

Asked about the future of diplomatic relations between Tehran and Riyadh, Qassemi said Switzerland has been representing Iranian interests in Saudi Arabia under an agreement reached with Bern eight months ago.

After withdrawing from the 2015 nuclear pact with Iran in May, President Donald Trump's administration said it wants to cut Iran's oil exports entirely by a November 4 deadline.

The Associated Press reported that a shipment of five new ATR72-600 planes arrived in Tehran as part of a deal with a French-Italian manufacturer for 20 aircraft.

White House Urges China Address ‘Unfair Trading Practices’ Not Tariff Retaliation
China included liquefied natural gas for the first time in its list of proposed tariffs. Beijing was also not striking back with the "same strength", said Professor Yuan.

On Tuesday, the reimposition of USA sanctions will include purchasing of United States dollars, trade in gold and precious metals, coal and industrial-related software, U.S. imports of Iranian carpets, foodstuffs and some financial transactions.

"There are rising concerns, all this time we have uncertainties on the Iran sanction and uncertainties over tariffs, as we certainly don't need any more trigger for a significant swing [in prices] in one way or another", said Jim Ritterbusch, an analyst in Galena, Illinois.

Iran says the sanctions are endangering lives by blocking the sale of new planes and spare parts for its ageing fleets.

Iran has started naval exercises in the Gulf amid heightened tensions with Washington, US officials have revealed.

The move was condemned by U.S. allies including the UK, Germany and France.

"We are already seeing auto prices going through the roof over fears about raw material imports", she told AFP.

She said the collapse in the value of the rial was not driven by purely economic factors but instead by people rushing to buy gold or hard currency as a safe haven for their savings because they do not trust the government to improve the situation.

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