Iran warn of ‘CONSEQUENCES’ as U.S. announces ban on oil exports


China continues 'fair and lawful' business in Iran, despite U.S. sanctions

Separately, Iranian Foreign Minister Mohammad Javad Zarif said Wednesday that a US plan to reduce Iran's oil exports to zero will not succeed, according to the Iran newspaper.

Mr Zarif added the idea of halting the exports of Iran's most valuable goods "simplistic and impossible" and will lead to "consequences".

In a commentary published by the Guardian on Wednesday, Khoshroo stressed that by ditching the nuclear deal with Iran and sanctioning countries engaged in business transactions with the country, the U.S. is violating UNSC Resolution 2231.

The US is now also pushing Pyongyang to scrap its nuclear capabilities after Trump and North Korea's leader Kim Jong Un agreed a vague commitment to "denuclearisation of the Korean Peninsula" at their landmark summit in June.

Following Trump's announced United States departure from the deal in May, the White House has, through 17 rounds, sanctioned 38 Iran-related targets.

"But this is not the first time that the Iranian leadership is dealing with sanctions", Vaez said.

German Foreign Minister Heiko Maas warned Wednesday that US President Donald Trump's decision to reimpose sanctions on Iran could further destabilize the Middle East and boost radical forces in the region. Ali Vaez, Iran project director for the International Crisis Group, told AFP that the sanctions would inflict "significant harm" on the Iranian economy.

Tuesday's sanctions target Iran's purchases of USA dollars, metals trading, coal, industrial software and the auto sector.

On Monday, Trump signed an executive order re-imposing sanctions on Iran to levy "maximum economic pressure" on the Islamic Republic. Petroleum-related transactions and transactions by foreign financial institutions with the Central Bank of Iran will also be affected. "I am asking for WORLD PEACE, nothing less!" tweeted the President.

"Tantrums & CAPPED TWEETS won't change the fact that the world is sick & exhausted of US unilateralism", Zarif tweeted.

Iran appears to be looking to discredit the North Korea as a way to hamper President Trump's denuclearization effort.

The comments from Beijing and Berlin signaled growing anger from partners of the United States, which reimposed strict sanctions against Iran on Tuesday, over its threat to penalize businesses from third countries that continue to operate there.

In an unprecedented measure, the U.S. is punishing countries for abiding by a Security Council resolution, says Iran's UN Ambassador Gholamali Khoshroo.

Ri was also quoted as describing the sanctions against Iran as "inappropriate and contrary to global standards".

"As a result of these measures, the U.S. has been isolated".

While cheered by Prime Minister Benjamin Netanyahu and other senior Israeli officials, the reimposition of U.S. sanctions was bemoaned by the nuclear deal's European signatories and the EU, which defended the accord and vowed to protect European firms from USA economic penalties.

Despite the political will to hold firm, many large European firms such as German automaker Daimler are leaving Iran for fear of United States penalties.

Latest News