World News

Pompeo: United States will enforce sanctions against Iran

Pompeo: United States will enforce sanctions against Iran

"Bringing foreign currencies and raw gold into the country, according to the Central Bank laws, is legal and exempt from value-added tax and legal duties", Abdolnasser Hemmati, the head of the Central Bank of Iran, was quoted in the official Islamic Republic News Agency as saying.

Iran will not sit down for negotiations under pressures, in particular with U.S. President Donald Trump who "has breached obligations", Iran's Foreign Ministry Bahram Qasemi said Saturday.

Despite opposition from European allies, Trump in May pulled the United States out of a 2015 deal between world powers and Tehran under which worldwide sanctions were lifted in return for curbs on Iran's nuclear program.

However, U.S. officials said that as part of the sanctions, the Iranian government as of 0401 GMT/UTC on August 7 would no longer be able to buy U.S. banknotes.

Protests broke out on Sunday for a sixth night in Iranian cities, including Kazeroon in the south, according to social media. "Perhaps that will be the path the Iranians choose to move down with".

The 2015 landmark nuclear deal provided Tehran with some relief from sanctions in return for curbs on its nuclear program.

On 7 August, Washington will reimpose sanctions on Iran's purchase of United States dollars, its trade in gold and precious metals and its dealings with metals, coal and industrial-related software.

More news: Trump says Trump Tower meeting was 'totally legal'

A deepening of Iran's economic crisis could also lead to an influx of refugees and migrants into Europe like that seen on the heels of the Syrian conflict.

The United States has told other countries they must halt imports of Iranian oil starting in early November or face U.S. financial measures.

Iran's oil exports could fall by as much as two-thirds by the end of the year because of the USA sanctions, putting oil markets under huge strain amid supply outages elsewhere in the world. Five new planes were purchased from ATR for the state airline.

China's refusal to comply with United States sanctions, likewise, is a sign that Iran won't be totally cutoff from world markets. Iran acquired five new European commercial planes on Sunday before the sales were cut off.

Asked about the future of diplomatic relations between Tehran and Riyadh, Qassemi said Switzerland has been representing Iranian interests in Saudi Arabia under an agreement reached with Bern eight months ago.

"We are already seeing auto prices going through the roof over fears about raw material imports", she said.

"There is a massive loss of confidence in the financial system and the government's ability to control things and withstand sanctions", she said.


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