Open to new deal with Iran

Donald Trump and Iran President Hassan Rouhani. —AFP

Donald Trump and Iran President Hassan Rouhani. —AFP

Jahangiri emphasized that Iran had serious plans to maintain oil exports above one million barrels per day.

The other prove to this failure is a report by Bloomberg on Friday that quoted a US official as announcing that eight countries, including South Korea, Japan and India have received waivers from the USA government to keep buying Iranian oil after the reimposition of sanctions on Tehran from November 4.

Unusually, Pompeo did not name the eight, other than to say the European Union is not among them. It is widely expected that Japan, South Korea and India will also receive waivers.

Turkey imports nearly almost half of its oil from neighbouring Iran.

India along with seven other nations have been exempted from sanctions getting imposed against them for importing oil from Iran. "And we're going to provide that to them".

Pompeo said that countries like India, if it gets the exemption, would be asked to bring down their oil imports from Iran to zero in six months' time. And, he said that US regulators would be watching closely Iranian transactions that use SWIFT to ensure any of those that run afoul of USA sanctions would be punished.

With the sanctions clampdown, Trump is seeking to push Iran to end uranium enrichment outright, and halt its ballistic missile development and support for proxy forces in Yemen, Syria, Lebanon and elsewhere in the Middle East.

At the time, he began reimposing sanctions that had been suspended or removed by his predecessor Barack Obama.

Iranians chanting "Death to America" rallied on Sunday to mark both the anniversary of the seizure of the US Embassy during the 1979 Islamic Revolution and the imminent reposition of US sanctions on Iran's key oil sector. It has announced plans for a legal framework through which firms can skirt U.S. sanctions, although few major corporations have been eager to risk the wrath of penalties in the world's largest economy.

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"The world opposes every decision made by Trump", Iranian state television quoted Khamenei, a Shi'ite cleric with ultimate authority in Iran, as saying during a meeting with thousands of students.

Trump tweeted a picture of himself in front of an icy-effect grey background, with "sanctions are coming" in Game OF Thrones style font.

"The US has had some success in terms of frightening away major corporations".

Mnuchin says the US has informed SWIFT that it would be subject to USA sanctions if it provides financial transfer services to "certain designated Iranian financial institutions".

"And that's another reason why I think we're going to find it's hard to see them really joining even if their companies are no longer within Iran", he added.

"SWIFT is no different than any other entity", Mnuchin said. The deal saw Iran limit its controversial nuclear activities in exchange for sanctions relief.

Turkey has been told it will temporarily be allowed to keep buying Iranian oil, its energy minister told reporters on November 2.

The students believed the USA would launch a counter-coup to return deposed shah Mohammad Reza Pahlavi to power - similar to the CIA-backed coup that overthrew Iran's elected government in 1953 - unaware that the king was already critically ill with cancer.

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