World News

Iran sanctions: USA can't stop our oil exports, says minister

Iran sanctions: USA can't stop our oil exports, says minister

"If there is the issue of negotiations, we had two years of intensive negotiations with the Americans and the JCPOA (the Iran nuclear agreement) was the result of these talks, but the Trump administration withdrew from it".

Iran has dismissed a last-minute offer from the Trump administration for talks, saying it could not negotiate while Washington had reneged on the 2015 deal to lift sanctions.

"China's commercial cooperation with Iran is open and transparent, reasonable, fair and lawful, not violating any United Nations Security Council resolutions", it said.

China, Iran's top oil customer, buys roughly 650,000 barrels a day of crude oil from Tehran, or 7 percent of China's total crude oil imports.

The German government said US sanctions against Iran that have an extra-territorial effect violate worldwide law, and Germany expects Washington to consider European interests when coming up with such sanctions.

Iranian President Hassan Rouhani, speaking in a meeting with North Korea's foreign minister, said that America could not be trusted, according to the Islamic Republic News Agency.

President Donald Trump on Tuesday warned that firms doing business with Iran would be blocked from the USA market as new sanctions hit the country despite appeals from Washington's allies.

The European Union has also unveiled a "blocking statute" meant to mitigate the impact of the USA sanctions on European firms doing legitimate business with Iran.

More news: Oil rallies as Iran sanctions kick in

Turkey, however, said it would continue to buy natural gas from Iran.

European countries have also vowed to protect the nuclear deal by continuing to trade with Iran.

"The US withdrawal from JCPOA and re-imposition of its sanctions is a serious breach of its legal obligations under the United Nations Charter, which entails its worldwide responsibility".

Experts say that the financial crisis in Iran could worsen to the point that mass protests make it impossible for the regime to hold on to power - though economic pressures risk galvanizing growing anti-American sentiment and support for hardliners.

"It symbolizes the determination to curb Iran's regional aggression and its ongoing plans to arm itself with nuclear weapons", said Netanyahu in a video released Monday, moments after Trump signed new sanctions into law.

Meanwhile, Italian Foreign Minister Moavero Milanesi said that "agreements have to be respected".

In the past, countries implemented USA bans that were endorsed by several UN Security Council resolutions, but now the world has been standing up to the U.S. sanctions, Zarif said, citing an update of the Blocking Statute by the European Union to protect the bloc's companies doing legitimate business with Iran from the impact of United States extraterritorial sanctions.

Iranian Foreign Minister Mohammad Javad Zarif said Wednesday it was hard to imagine new talks with the USA after it lost the trust of the world with its erratic decision-making.


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