Iran warn of ‘CONSEQUENCES’ as United States announces ban on oil exports

Clay Curtis
August 9, 2018

In a White House statement announcing the sanctions, Trump repeated his criticisms of the deal, and argued that Iran's behavior since the pact was implemented has vindicated his long-held position.

"Today, America is identified as an unreliable and untrustworthy country in the world which does not adhere to any of its obligations", Rouhani said.

In this photo released by an official website of the office of the Iranian Presidency, President Hassan Rouhani, right, greets North Korean Foreign Minister Ri Yong Ho at the start of their meeting, at the presidency office, in Tehran, Iran, Wednesday, Aug. 8, 2018.

Mohammed Javad Zarif's public advice came after the United States reimposed sanctions against Iran on Monday, as presaged by President Donald Trump's withdrawal from his predecessor Barack Obama's nuclear deal, formally known as the Joint Comprehensive Plan of Action (JCPOA).

He has been facing criticism for his alleged mismanagement of the country's high unemployment rate, the downward spiral of Iran's national currency rial against the USA dollar as well as the conduct of certain financial and credit institutions.

US officials have said in recent weeks that they aim to pressure countries to stop buying oil from Iran in a bid to force Tehran to halt its nuclear and missile programs and involvement in regional conflicts in Syria and Iraq.

Mr Zarif added the idea of halting the exports of Iran's most valuable goods "simplistic and impossible" and will lead to "consequences". Even stronger sanctions targeting Iran's oil sector and central bank are to be re-imposed in early November.

Last month, Trump offered to meet Iran's leaders.

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Rouhani hinted last month that Iran could block the Strait of Hormuz, a major oil shipping route, if the USA attempted to stop the Islamic Republic's oil exports.

The high-level meeting follows the reimposition of sanctions on Iran by the US on Tuesday, which a White House statement said targeted the country's energy sector and foreign financial institutions doing business with the Central Bank of Iran.

Rabiei's supporters say he is not responsible for Iran's economic crisis and were able to fend off an earlier attempt to impeach him in March.

The North Koreans were taking a "two-pronged" diplomatic approach by continuing denuclearization negotiations with the USA while also pursuing diplomacy and "ally-building" with countries such as Iran.

Already facing broad economic fallout as their currency implodes, Iranians are wondering how the next phase of the crisis in USA relations will play out - and what, exactly, America's long-term strategy is toward their country. "There is no doubt about this", Khamenei was quoted as saying in comments that appeared only a day after the new USA sanctions took effect.

The chief executive of reinsurance group Munich Re said it may abandon its Iran business under pressure from the United States, but described the operation as very small.

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.

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