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U.S. unleashes 'toughest ever' sanctions on Iran

U.S. unleashes 'toughest ever' sanctions on Iran

"There's a key fact here: in this 40-year challenge, the defeated is the U.S. and the victorious is the Islamic republic", Trump announced in May he was withdrawing from the 2015 nuclear deal and reimposing sanctions, sparking outrage among world powers who say Iran has been complying with commitments to restrict its atomic programme.

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 United States "psychological war" and the return of U.S. sanctions, meant to cripple the Islamic Republic's oil exports and financial institutions.

"In a single move, the United States is dealing a critical blow to Iran's entrenchment in Syria, Lebanon, Gaza, Iraq and Yemen", the minister posted in a rare English-language tweet.

On Sunday, Mr. Pompeo affirmed the global community's backing of Mr. Trump's efforts against Iran.

The Donald Trump administration's decision to issue waivers also marked a significant reduction from the Barack Obama administration, which issued such exemptions in 2012 to 20 countries over 3 years during last sanctions.

The countries will deposit Iran's revenue in an escrow account, USA officials have said. "We now have in place the toughest ever sanctions on a corrupt regime in Iran", Trump told his supporters at an election rally in West Virginia.

"The magnitude of recent selling is strongly suggesting that global oil demand is weaker than expected as a result of tariff issues, especially between the U.S. and China", said Jim Ritterbusch, president of Ritterbusch & Associates.

They carried placards that mocked President Donald Trump, wiped their feet on fake dollar bills, and engaged in the usual ritual of burning the U.S. flag.

In other words, China and the USA are already bleeding each other economically.

Iran's national currency, the rial, now trades at 145,000 to one USA dollar - down from 40,500 to $1 a year ago.

Oil-buying nations, including China, India, Japan, Turkey and South Korea, will be given permission by the Trump administration to purchase Iranian output, although no European countries are included in the list, according to reports. The economic chaos sparked mass anti-government protests at the end of past year which resulted in almost 5,000 reported arrests and at least 25 people being killed. "These sanctions hit at the core areas of Iran's economy, and they are necessary to spur changes we seek on the part of the regime".

Iran's President Hassan Rouhani has vowed to "break" swingeing sanctions re-imposed by the USA targeting core parts of the economy.

In comments aired on state TV, Rouhani vowed the Islamic Republic would "proudly bypass [the] illegal, unjust sanctions because it's against worldwide regulations".

Iran's military was also quoted as saying it would hold air drills on Monday and Tuesday to prove the country's defensive capabilities.

Rouhani pledged to government officials in his remarks that Iran would overcome the USA embargo.

Iranian officials have characterized the sanctions as an economic war. We are confronting a bullying enemy. "We have to stand to win".

Washington has also said that it wanted to stop what it calls Teheran's "malign" activities including cyber attacks, ballistic missile tests, and support for terror groups and militias in the Middle East.

Brian Hook, the special adviser to the secretary of state and special representative for Iran, told PBS News that the U.S. is not looking to give any exceptions or waivers to its sanctions regime.

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