In An Interim Move, 3 Iranian Nuclear Sites Exempted From US Sanctions

Saudi oil output capacity may be close to maxing out

In response, Iranian President Hassan Rohani said in speech broadcast on state TV on November 5 that Iran will break us sanctions and continue to sell oil.

The diplomat suggested that countries were beginning to see through the frequent use of the Iranian threat by the USA and its allies in shaping Middle East policy. "If they try to evade our sanctions, we will take actions to obstruct their activity time and time again".

The reimposed sanctions will also target Iran's central bank and the country's shipping and shipbuilding sectors.

With Russia, China and key European allies all saying they remain committed to the 2015 nuclear deal, it remains to be seen whether the us penalties force them to comply or drive their companies away from Iran.

The Russian envoy said he has traveled to Iran on Putin's orders for a twin mission: to give a report on a recent 4-party meeting of Russia, Turkey, Germany and France on the situation in Syria that was held in Istanbul, and to voice Moscow's unequivocal support for Iran against the fresh round of U.S. sanctions ...

Exports peaked at 2.8 million barrels per day in April, including 300,000 barrels per day of condensate, but have fallen to 1.8 million bpd since then, according to WoodMac, which expects volumes to drop further to 1 million bpd.

During the dialogue, the Indian side had "frankly" put across their position on oil imports from Iran. "The maximum pressure exerted by the U.S.is only going to mount from here", he added.

After pulling the U.S. out of the deal struck between Iran and six major powers - Britain, China, France, Germany, Russia and the United States - the administration began reimposing sanctions on the Islamic Republic in August.

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His remarks provide an insight into Iran's diplomatic response based on an effort to isolate the United States by driving a wedge between it and European countries. Japan and South Korea were previously reported to have fully ceased oil purchases from Iran.

While the Emirati government so far appears poised to go along with the Trump administration, US officials know that the regional geography makes it a sought-after haven for smugglers seeking to evade Washington's sanctions. "Enforcement from the United States could do a lot to change minds". However, SWIFT announced today that it would shut out the 50 Iranian banks sanctioned as part of today's sanctions announcement after Treasury Secretary Steven Mnuchin threatened penalties on participating banks and board members Friday.

Even before the United States sanctions were reimposed, Iran's economy had had a hard year, with its currency, the rial, plummeting against the dollar, driving up the price of basic goods. "We have the toughest sanctions ever imposed, but on oil we want to go a little bit slower because I don't want to drive (up) the oil prices in the world", he told reporters before flying to a midterm campaign event on Monday. "We are prepared to resist any pressure", Rouhani said.

More than 700 individuals, entities, vessels and aircraft are now on the sanctions list, including major banks, oil exporters and shipping companies.

Iran is already facing an economic crisis.

Two of the countries have agreed to reduce imports to zero while six others "will import at greatly reduced levels", Pompeo said.

Israel has been a fierce opponent of the 2015 nuclear deal, saying it didn't rein in Iran's regional military activities.

All of the other signatories, China, the European Union, France, Germany, Iran, Russia and the United Kingdom, have remained in the deal despite USA action.

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