Mike Pompeo warns Russia, China over Iran sanctions

Mike Pompeo warns Russia, China over Iran sanctions

Mike Pompeo warns Russia, China over Iran sanctions

The Europeans have mounted a drive to save the agreement without the USA, fearing that the new sanctions will drive Iran to pull out and resume all of its nuclear work.

The National Iranian Oil Company has signed a deal with state-owned Zarubezhneft to develop two oil fields, Aban and Paydar-e Gharb, in Iran.

Pompeo added that as the new sanctions come into place next Monday, Iranian oil exports will shrink even more, with a decrease of more than one million barrels per day compared to last May.

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".

The Iranian foreign ministry said that it was "unconcerned" by the move.

Under the 2015 deal, most of the worldwide financial and economic sanctions on Iran were lifted in return for Tehran curbing its disputed nuclear activity under United Nations surveillance.

The Trump administration created a list of demands Iran would need to meet for sanctions to be lifted, including completely halting its nuclear and ballistic missile program and ending military engagement in Syria and Yemen.

However, a source close to the project say executives at Zarubezhneft have scrapped the deal ahead as further USA sanctions are about to come into force against Iran, according to Reuters.

Meanwhile, Iranian state television reported that the Islamic Republic had started production of the locally-designed Kowsar fighter plane for use in its air force.

Pompeo said the USA actions have already taken over a million barrels per day of Iranian oil exports off the market even before the sanctions officially go into effect next week.

U.S. Secretary of State Mike Pompeo, who announced the U.S. decision on November 2, did not name the eight, which he referred to as "jurisdictions", a term that might include importers such as Taiwan which the United States does not regard as a country.

The sanctions penalise other countries which do business with Iran.

Mnuchin said today that SWIFT "would be subject to USA sanctions if it provides financial messaging services to certain designated Iranian financial institutions" and that the U.S.

It is part of efforts by Iran and its customers to keep oil flowing ahead of a new USA embargo set to hit on Monday.

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

While Trump removed the United States from the 2015 Iran nuclear deal earlier this year and sanctions are set to be imposed Monday, some critics are upset that some countries received waivers from the sanctions to continue importing Iranian oil. China, the leading importer of Iranian oil, is still in discussions with the USA on terms, the report said. "These concessions are critical to ensuring that we increase our maximum pressure campaign and accelerate towards zero", Pompeo said.

Oil prices fell on Friday for a weekly loss of over 6 percent, as investors anxious about crude oversupply after the USA waivers. "So it must be given concession in buying oil with Iran and this is what was required and done".

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.

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