Sunday, 18 November, 2018

Iran will break US sanctions and continue to sell its oil – President Rouhani

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Iran will continue to export its oil and will “break” the sanctions reinstated by the US on Monday, the nation’s leader Hassan Rouhani said in a TV address.

“America wanted to cut to zero Iran’s oil sales,” but the Islamic Republic “will continue to sell” its oil “to break sanctions,”Rouhani warned during a meeting with the economists, which was broadcast on TV.

The Iranian president said that the country will undercut Washington’s plan for sanctions on its energy and banking sectors.

The US began re-imposing sanctions on Tehran after President Donald Trump withdrew the country from the Joint Comprehensive Plan of Action (JCPOA) on the Iranian nuclear program in May, branding the deal “defective at its core.”

In the months leading up to the re-imposition of restrictions on buying Iranian oil, officials in Washington made it clear that their goal was to almost eliminate the nation’s oil exports.

While the first round of US sanctions on Iran kicked off in August, the second round officially came into force on Monday. This was the deadline given by Trump to cease dealings with Iran, though the president did later promise to grant waivers to several companies, allowing them to gradually reduce their oil purchases from the Islamic Republic.

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