Iran vows to attack oil trade if U.S. sanctions bite

Iranian President Hassan Rouhani

The president, who announced the United States will re-impose sanctions against Iran, claimed he could broker a better deal, although he is yet to reach any agreement.

Rouhani, who's facing intense pressure from hardline conservatives at home who accuse him of being naïve for ever trusting the US, would be left with little incentive to remain in the deal and in compliance with its terms and conditions.

Jason Rezaian, a Washington Post reporter who previously served as the newspaper's Tehran bureau chief and was imprisoned during the Iran nuclear negotiations, expressed disbelief that Trump would "quote propaganda".

Last week, Turkey's economy minister said his country does not plan to abide by the USA demand for countries to stop importing Iranian oil, calling the request "nonbinding" on Turkey - a stinging rebuke from a North Atlantic Treaty Organisation ally.

Federica Mogherini, the EU's foreign relations chief, has said the European Union was determined to protect and deepen key sectors including Iranian energy sales, banking transactions and transportation ties. So far, neither the Trump administration has not responded to requests for evidence. Trade between Iran and Europe virtually halved after sanctions were tightened in 2011. "So, even if Iran supplies get disrupted, the supplies to the Indian market will still continue".

"The US [officials'] statement in this regard is unilateralism...and a breach of all worldwide rules and regulations in energy and trade sectors", Rouhani said at a joint press conference with his Swiss counterpart, Alain Berset, in Bern on Tuesday.

Eshaq Jahangiri made the comments Sunday in a televised speech.

On Friday, the top diplomats from Britain, France, Germany, as well as China and Russian Federation will join Iranian Foreign Minister Mohammad Javad Zarif in Vienna to discuss a "European incentive package and the solutions to preserve Iran nuclear deal after USA illegal action to withdraw", according to Iran's state-run news.

The foreign ministers of Iran and the five world powers still party to the 2015 nuclear deal will meet in Vienna on Friday for talks on the troubled accord, state media in Tehran said.

Meanwhile, a major focus of Trump's campaign is to drive Tehran's economy-sustaining oil exports to zero. Washington has since told countries they must halt all imports of Iranian oil from November 4 or face US financial measures, with no exemptions. The White House said over the weekend that Saudi Arabia's King Salman had agreed to raise his country's oil output by as much as 2 million barrels a day, if necessary.

Despite who made the claim - and that the State Department and the Department of Homeland Security have not confirmed it - several news outlets reported the story anyway, which Trump then tweeted. "Since the beginning of the 11th government we told all our foreign parties that if you speak with the Iranian nation with respect and logic, we can resolve issues with logic and consultation and if you prefer threatening, pressure and humiliation, it will never work", the Iranian president said.

Hook sad more than 50 firms announced their intent to leave the Iranian market, particularly in energy and finance sectors, as the U.S.is moving toward placing sanctions on Iran. He said USA teams of State Department and Treasury officials had visited 13 countries in Europe and East Asia so far, to dissuade governments and companies from doing business with Iran.

Hook also said a delegation under his lead will visit Gulf states "in the coming days", as part of global diplomatic efforts.

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