Iran sanctions: U.S. can't stop our oil exports, says minister

Iran sanctions: U.S. can't stop our oil exports, says minister

Iran sanctions: U.S. can't stop our oil exports, says minister

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.

North Korean state media lashed out at the US on Monday for its determination to maintain sanctions against the DPRK while negotiations on its nuclear program are ongoing, describing it as the "tragicomedy of the century".

Iranian Foreign Minister Mohammad Javad Zarif told reporters that the global reaction to Trump's move showed that the U.S. was diplomatically isolated.

Ri is on a two-day visit to Tehran, and is due to meet with President Hassan Rouhani on Wednesday.

The newly reimposed sanctions, which target access to U.S. banknotes and key industries such as cars and carpets, were unlikely to cause immediate economic turmoil.

The first period started Tuesday and marked the reinstatement of sanctions on the purchase of United States bank notes by the Iranian government, Iran's gold trade and other financial and industrial transactions.

"China's commercial cooperation with Iran is open and transparent, reasonable, fair and lawful, not violating any United Nations Security Council resolutions", it said.

The reimposition of US sanctions followed Trump's decision earlier this year to pull out of a 2015 deal to lift the punitive measures in return for curbs on Iran's nuclear program created to prevent it from building an atomic bomb.

Trump tweeted on Tuesday: "These are the most biting sanctions ever imposed, and in November they ratchet up to yet another level".

Trump decided this year to pull out of the agreement, ignoring pleas from the other world powers that had co-sponsored the deal, including Washington's main European allies, Britain, France and Germany, as well as Russian Federation and China.

On Tuesday, US President Donald Trump wrote on social media that "anyone doing business with Iran will NOT be doing business with the United States".

Within hours of the sanctions taking effect, German carmaker Daimler said it had "suspended our already limited activities in Iran in accordance with the applicable sanctions".

Earlier this year, US military commanders in the Middle East were puzzled to note that a risky trend of Iranian small boats harassing Navy vessels in the Persian Gulf had suddenly and unexpectedly come to a halt.

"The Americans have assembled a war room against Iran", Zarif said.

Trump responded by noting that Iran could face serious consequences if it threatened the United States.

The Iranian rial fell to a record low late last month, dropping in value by half since April, leading to sharp price increases and fast-rising inflation.

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