Iranian marchers chant 'Death to America' on eve of U.S. oil sanctions

Iranian marchers chant 'Death to America' on eve of U.S. oil sanctions

On Fox, Pompeo called the penalties "the toughest sanctions ever put in place on the Islamic Republic of Iran" and defended the U.S.' decision to give eight unidentified countries more time to wean themselves off Iranian crude oil.

"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 restoration of USA sanctions on Monday targeting Iran's oil sales and banking sector is part of an effort by Trump to force Iran to halt its nuclear and ballistic missile programmes outright, as well as its support for proxy forces in conflicts across the Middle East.

The sanctions, re-imposed by President Donald Trump earlier this year, will end all the economic benefits America granted Tehran for its 2015 nuclear deal with world powers.

Iran's Guardian Council on Sunday rejected an anti-terror financing bill that Rouhani had lobbied strongly for, sending it back to parliament.

However, US leader Donald Trump's personal lawyer Rudy Giuliani and John Bolton, the president's national security adviser, have both made public statements supporting the overthrowing of Iran's theocratic government. "The challenge between the USA and Iran has lasted for 40 years so far and the U.S. has made various efforts against us: military, economic and media warfare", he said.

He said he could not rule out that the USA administration would extend the waivers beyond six months.

Japan said on Monday it was in close communication with the United States.

South Korea, one of Asia's biggest buyers of Iranian oil, last week asked the USA for "maximum flexibility" after some of its construction firms cancelled energy-related contracts in the Islamic Republic because of financing difficulties.

While Iran braces for a new set of sanctions on Monday that will target its oil, shipping, energy and banking sectors, United States measures have already taken a heavy toll on the Islamic republic.

India, the world's third-biggest oil consumer, meets more than 80 per cent of its oil needs through imports.

"The current restrictions will become permanent, including (elements) related to what the U.S. calls Iran's behavior in the region", he said. "We will, we expect, have reduced Iranian crude oil exports by more than 1 million barrels even before these sanctions go into effect", he added.

She also said China stood with those nations that have vowed to keep the agreement alive despite the US withdrawal, and said Iran has been "strictly fulfilling its obligations" under the accord.

"Details of the sanctions will be released at a news conference scheduled for 8:30 a.m. ET with Secretary of State Mike Pompeo and".

U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 35 cents, or 0.6 percent, at $62.79 a barrel. He qualified that transactions for "humanitarian" purposes would be exempt, as they had been in the past, but cautioned that "banks must be very careful that these are not disguised transactions".