U.S. announces broad new sanctions against Iran

This image taken from the Twitter account of President Donald J. Trump @realDonaldTrump shows what looks like a movie-style poster that takes creative inspiration from the TV series 'Game of Thrones' to announce the re-imposition of sanctions

Smashing another remnant of Barack Obama's reign and throwing some red meat at red states at the same time, the administration was quick to get out the word that "President Donald J. Trump is reimposing the toughest sanctions ever on Iran, targeting numerous corrupt regime's critical sectors".

Eight countries will not be penalized by the USA for continuing to import Iranian oil, and those revenues will help Iran, although not by enough to allow Tehran to continue financing regional conflicts.

Pompeo said two of the jurisdictions, which he did not identify, will wind down Iranian oil imports to zero in "weeks".

Pompeo would not identify the countries receiving waivers, but maintained that despite the waivers, "these sanctions have already had an enormous impact".

Iran's supreme leader Ayatollah Ali Khamenei said Saturday that President Donald Trump has "disgraced" United States prestige and would be the ultimate loser from renewing sanctions on the Islamic republic. Asked if the Crown Prince of Saudi Arabia was involved, Pompeo said, "We're going to follow the facts wherever they go".

Treasury Secretary Steven Mnuchin said in the call that the United States has advised SWIFT, the global messaging network that connects the world's financial institutions, to discontinue its service for the Iranian financial institutions Washington plans to blacklist on Monday.

After the US' withdrawal from the deal, Trump signed fresh sanctions against Iran and warned countries against any cooperation with Tehran over its controversial nuclear weapons programme. These sanctions hit at core areas of Iran's economy. The European Union will not be granted an exemption, Pompeo said.

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The deal - agreed by the US, China, Russia, France, Germany and the United Kingdom - brought about the lifting of most worldwide financial and economic sanctions on Iran in return for Tehran curbing its disputed nuclear activity under UN surveillance. Some Iran hawks have expressed concern that such humanitarian transactions could be masking transactions being used to fund Iranian-backed terrorism.

Sanctions on Iran's petroleum sector are scheduled to snap back into effect on November 5.

November 4, which falls on the 13th day of the Iranian calendar month of Aban, is also known as the Student Day and the National Day of the Fight against Global Arrogance.

Iran was supposed to face restrictions on development of its nuclear-capable ballistic missiles and a binding ban on its importation or exportation of arms, the report said.

US President Donald Trump withdrew from its 2015 nuclear deal with Iran in May, describing it as "defective at its core".

Turkey depends heavily on oil imports and almost nearly half of its oil needs are imported from Iran.

Struck between world powers and Tehran after years of fraught negotiations, the deal was aimed at limiting Iran's nuclear capabilities in exchange for sanctions relief. "It is obviously impossible to exclude Iranian oil from the market", Kardor told ISNA. It has also sought a carve out from curbs on ports for Chabahar port in Iran which it has helped develop and uses as gateway to Afghanistan and Central Asia.

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