Asian, European friends rally behind Iran amid sanctions

Asian, European friends rally behind Iran amid sanctions

As part of the new round of measures, the White House has warned Iran's customers they must reduce their purchases of oil to zero or face USA penalties, although it has issued 180-day waivers to eight "jurisdictions" that will allow them to continue importing Iranian oil.

President Donald Trump removed the US from the 2015 Iran nuclear deal earlier this year, triggering the sanctions being imposed Monday.

The move incensed USA allies in western Europe, who had begun to make significant investments in Iran, as a result of the Obama-era nuclear pact, known as the Joint Comprehensive Plan of Action, or JCPoA. Campaigning in Chattanooga, Tennessee, on Sunday, Trump said his "maximum pressure" against Iran was working. "We now have in place the toughest ever sanctions on a corrupt regime in Iran", Trump told his supporters at an election rally in West Virginia.

However, analysts doubt this will materially lessen the impact of sanctions on Iran.

Pompeo said the USA moves have "had an enormous impact already".

Tehran had vowed to smash the sanctions which target the Islamic republic's vital oil, shipping, insurance, energy and banking sectors.

The United States reimposed oil and financial sanctions against Iran on Monday, significantly turning up the pressure on Tehran in order to curb its missile and nuclear programs and counter its growing military and political influence in the Middle East. "The sanctions are truly coming", Netanyahu said.

When questioned about whether the European Union or other nations or jurisdictions would receive waivers (or SREs, "significant reduction exemptions"), he answered "T$3 he EU will not be receiving an SRE". "The challenge between the United States and Iran has lasted for 40 years so far and the U.S. has made various efforts against us: military, economic and media warfare", he said.

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During the rallies, the demonstrators chanted slogans against the US and Israel and condemned US President Donald Trump's aggressive policies and stances against the Islamic Republic.

The administration's strategy is to punish Iran so severely that it's compelled to negotiate a permanent end to its nuclear ambitions, as well as what the USA calls its "malign behavior" in the Middle East.

Sources said the USA waiver for 8 countries, may not be indefinite and it would come with commitment to reduce oil imports from Iran to zero quickly.

Trump has long argued that the 2015 nuclear deal is badly flawed, in part because its provisions would expire in 10 to 15 years and partly because it does not adequately constrain Iran's destabilizing behavior in the region.

According to the White House's official Twitter account on November 2, Trump is set to reimpose economic and trade sanctions against Iran, which it described as a "corrupt regime".

Iran's supreme leader Ayatollah Ali Khamenei said Saturday that the biggest loser of all was the U.S. Economic grievances were a trigger for a wave of nationwide protests in recent months over the scarcity of the U.S. dollar, unpaid wages and rising prices.

The deal had seen most worldwide financial and economic sanctions on Iran lifted in return for Tehran curbing its disputed nuclear activity under United Nations surveillance.

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