Iranian marchers chant 'Death to America' on eve of USA oil sanctions

Donald Trump Game Of Thrones

Donald Trump Game Of Thrones

The 2015 deal, one of former President Barack Obama's biggest diplomatic achievements, gave Iran billions of dollars in sanctions relief in exchange for curbs on its nuclear program, which many believed it was using to develop atomic weapons.

Speaking in a conference call, Pompeo said, "We expect to issue some temporary allotments to eight jurisdictions, but only because they have demonstrated significant reductions in their crude oil and cooperation on many other fronts and have made important moves toward getting to zero crude oil importation". US sanctions on Iran will come in effect on November 5.

But will these companies risk being hit by secondary sanctions which would limit their own ability to trade with the US?

The top commander of Iran's elite Revolutionary Guards, Major General Mohammad Ali Jafari, said at the Tehran rally that Iran would resist and defeat a USA "psychological war" and the return of U.S. sanctions, meant to cripple the Islamic Republic's oil exports and financial institutions.

To punish Iranian banks, US Treasury Secretary Steve Mnuchin said SWIFT - which enables secure bank-to-bank communications and transactions - will also face sanctions if it provides services to blacklisted Iranian financial institutions.

Working from their small offices in Stockholm, analysts at a new watchdog that monitors global oil shipments have been run ragged by Iran's efforts to skirt U.S. sanctions this month.

"SWIFT now must make a choice", he said: refuse to deal with Iran banks on the USA blacklist, or face sanctions itself.

Khamenei said the US has failed to dominate Iran in the way it did before the 1979 Islamic Revolution that ousted a pro-Western monarchy.

"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".

"As parties to the JCPOA, we have committed to work on ... the preservation and maintenance of effective financial channels with Iran, and the continuation of Iran's export of oil and gas".

Harrell said the administration was concerned not to drive up the oil price with its sanctions against Iran.

China and Turkey are two other countries which are expected to be on the list of the Iranian oil buyers.

US Secretary of State Mike Pompeo, who announced the decision on Friday, did not identify the eight, which he referred to as "jurisdictions", a term that may include importers such as Taiwan which the US does not regard as a country.

Thousands joined rallies in Tehran and other cities, carrying placards that mocked President Donald Trump, wiping their feet on fake dollar bills, and engaging in the usual ritual of burning the USA flag.

Iranian officials are betting on the unstable market conditions to beat USA sanctions.

"Maximum pressure means maximum pressure", Pompeo said. Countering the White House take, he said, "Impoverishing ordinary Iranians will not hurt the regime or achieve any of America's security interests, but it will set back the Iranian people's aspirations for years to come".

Iranian leaders said the sanctions are aimed at toppling the government and have ruled out negotiations with the Trump administration.

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