The new u.s. sanctions against Iran come into force on Monday

The new u.s. sanctions against Iran come into force on Monday

The sanctions end all economic benefits the United States had granted Tehran for its 2015 nuclear deal with world powers, though Iran for now continues to abide by the accord that saw it limit its enrichment of uranium. Eight countries got exemptions for six months on importing Iranian oil: China, India, South Korea, Turkey, Italy, Greece, Japan, and Taiwan.

Turkey is among eight nations granted temporary waivers from sanctions the US reimposed Monday on Iran's oil sector.

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

The US is forcing other countries to cut off ties with Iran and has threatened to impose sanctions on them as well.

"The eight countries which have been exempted have already reduced imports on our request and out of these two have completely stopped importing oil and will not start imports till the sanctions remain in place". The first round of the USA sanctions was reimposed in August.

"We are making it abundantly clear to the Iranian regime that they will face mounting financial isolation until they fundamentally change their destabilizing behavior", Mnuchin told reporters.

"I think - and I'm echoing the (UK) government's position - this agreement was worth having, it's very important at preventing nuclear proliferation and, of course, if you want Iran to negotiate, to behave reasonably, you're not going to do that by tearing up agreements that are made in good faith".

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"Allowing these activities to continue, for the time being, will improve ongoing oversight of Iran's civil nuclear program and make these facilities less susceptible to illicit and illegal nuclear uses", said Pompeo.

"We know no government in Europe, Africa and Asia that officially voices support for United States sanctions; except the Zionist regime and a couple of regional countries", Jahangiri added.

Lord Lamont said a major concern was whether humanitarian supplies could reach the Iranian people, despite the U.S. saying these would be allowed.

The blacklisted companies include 50 Iranian banks, an Iranian airline and dozens of its planes, as well as officials and vessels in Iran's shipping and energy sectors.

The Iranian ambassador said the United States "not only blatantly defies the Security Council resolution 2231" that endorsed the nuclear deal, "but also audaciously coerces other states to violate the resolution".

The countries will deposit Iran's revenue in an escrow account, USA officials have said.

The measures are part of a wider effort by US President Donald Trump to curb Tehran's missile and nuclear programmes and diminish the Islamic Republic's influence in the Middle East, notably its support for proxies in Syria, Yemen and Lebanon. Campaigning in Chattanooga, Tenn., late on Sunday, Trump said his "maximum pressure" policy against Iran was working.

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