Iran tankers go dark to keep selling oil

Iran tankers go dark to keep selling oil

Iran tankers go dark to keep selling oil

The restoration of United States sanctions on Monday targeting Iran's oil sales and banking sectors is part of a wider effort by Trump to force Tehran to halt its nuclear and ballistic missile programmes outright as well as support for proxy forces in conflicts across the Middle East. The waivers could allow top buyers to keep importing Iranian oil after economic penalties come back into effect on Monday.

"On November 5th, the United States will reimpose sanctions that were lifted as part of the nuclear deal on Iran's energy, shipbuilding, shipping and banking sectors".

Thousands of Iranians chanting "Death to America" rallied on Sunday to mark the anniversary of the seizure of the U.S. Embassy during the 1979 Islamic Revolution and the imminent reimposition of U.S. sanctions on Iran's oil sector.

Anger and distrust of the U.S. are surging again following President Donald Trump's decision to withdraw from Iran's nuclear deal with world powers despite Tehran's compliance with the agreement, which was negotiated under the Obama administration. "We do not recognize the sanctions introduced unilaterally without the United Nations, we consider those methods illegal per se", he said.

Having abandoned the 2015 Iran nuclear deal, President Donald Trump is trying to cripple Iran's oil-dependent economy and force Tehran to quash not only its nuclear ambitions and ballistic missile program but also its support for militant proxies in Syria, Yemen, Lebanon and other parts of the Middle East.

US President Donald Trump signs a document reinstating sanctions against Iran on May 8, 2018.

Meanwhile, Iranian state television reported that the Islamic Republic had started production of the locally-designed Kowsar fighter plane for use in its air force.

A defiant Khamenei dismissed the renewed U.S. sanctions - including an oil embargo - that take effect on Monday.

The US has made it clear it wants eventually to cut off Iran's oil trade entirely, but has allowed eight countries to maintain imports as a temporary concession to give them time to reduce imports.

"I've been involved in scores of conversations about stopping illegal immigration from Mexico and never once has there been a discussion of the political impact in US domestic politics", Pompeo said. These sanctions hit at core areas of Iran's economy.

These economic sanctions are just a part of the USA government's total effort to change the behaviour of the Iranian regime, he said. "Reducing is bigger than we would have predicted", said Peter Harrell, a former senior state department official involved with sanctions and now a senior fellow at the Center for a New American Security thinktank.

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

"Maximum pressure means maximum pressure", Pompeo said.

"The difference last time was that sanctions were phased in gradually over a long period", said Rome.

Oil prices fell on November 2 for a weekly loss of over 6 percent, as investors anxious about crude oversupply after the US waivers.

US Secretary of State Mike Pompeo said the sanctions were "aimed at fundamentally altering the behaviour" of Iran.

Pompeo said the countries agreed that the payments for the oil will go into offshore accounts that Iran will only be able to tap for "humanitarian trade, or bilateral trade in non-sanctioned goods and services".

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