Iranian protesters attack Islamic school as sanctions loom

Boats sail towards the Strait of Hormuz a strategic global shipping route that Iran has threatened to block. Reuters

Boats sail towards the Strait of Hormuz a strategic global shipping route that Iran has threatened to block. Reuters

This is a blow to US President Donald Trump's efforts to isolate Iran after his withdrawal from a 2015 nuclear deal with the country, officially known as the Joint Comprehensive Plan of Action (JCPOA), they said.

A State Department official confirmed Francis Fannon, assistant secretary of state at the US Bureau of Energy Resources, was recently in China to discuss Iranian sanctions.

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

Three months ago, the United States withdrew from a 2015 agreement among world powers and Iran in which global sanctions against Tehran were lifted.

In June, the USA state department said that countries buying oil from Iran should bring down to zero their Iranian crude imports by the time Washington re-imposes sanctions on November 4.

But Trump, a long-time critic of the deal who succeeded Barack Obama as president a year ago, pulled out of the pact despite repeated assurances by United Nations inspectors that Iran is in compliance with its obligations.

China has rejected a USA demand to cut Iranian oil imports despite Washington's attempts to bring down the Islamic Republic's oil sales to zero, Bloomberg reports.

The Trump administration had wanted Iranian oil exports cut to zero by November 4.

"China always holds the view that JCPOA is a multilateral deal which is verified and approved by the United Nations Security Council and accords the common interests of all parties and the global community, which must be respected and safeguarded so as to maintain the authority of the United Nations, the effectiveness of multilateral deals and the credibility of the worldwide rules", he was quoted by the official Xinhua News Agency as saying.

Iranian President Hassan Rouhani has warned the U.S. against any attempt to stop Tehran's oil trade, threatening to block the strategically important Strait of Hormuz.

"Iran will survive this round of U.S. sanctions as it has survived them before", Rouhani said, describing them as a "crime and aggression".

India, the second purchaser of Iranian crude, also increased its imports from Iran last month. -Chinese trade relations. The Trump administration this week said it would increase tariffs on China from 10 percent to 25 percent, prompting Beijing to say it wouldn't be persuaded by economic blackmail.

In July, Beijing lifted monthly oil imports from Iran by 26 percent.

Last month around 35 percent of Iranian oil exports went to China.

What's next for Iran oil?

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