Iran says US "cruel" sanctions cannot stop crude oil exports

Iran says US

"We have a plan to counter the new sanctions", he stressed.

"I think - and I'm echoing the (UK) government's position - this agreement was worth having, it's very important at preventing nuclear proliferation and, of course, if you want Iran to negotiate, to behave reasonably, you're not going to do that by tearing up agreements that are made in good faith".

Early on Monday the U.S. imposed its "toughest ever" sanctions on Iran that it had earlier lifted after the signing of the nuclear agreement in July, 2015 between Tehran and Russia, China, the UK, France, Germany and the US.

In a statement, US Treasury Secretary Steven Mnuchin said the move "should make clear to the Iranian regime that they will face mounting financial isolation and economic stagnation until they fundamentally change their destabilising behavior".

On Monday, the USA introduced another package of sanctions against Iran, which affect key sectors of the economy.

Iran's supreme leader Ayatollah Ali Khamenei denounced the measures on Saturday, saying Trump had "disgraced" U.S. prestige and would be the ultimate loser in the long-running quarrel between the countries.

Washington has said it will ensure a well supplied global oil market, with help from ally Saudi Arabia, as Iran oil is cut back.

After pulling the USA out of the deal struck between Iran and six major powers - Britain, China, France, Germany, Russia and the United States - the administration began reimposing sanctions on the Islamic Republic in August.

But for the first time, the United States targeted Iran Air.

He added, "We have iron will to counter sanctions". The exemption will allow China, India, Japan, South Korea, Taiwan, Italy, Greece and Turkey, to continue trading with Iran as normal.

As part of the new round of measures, the White House has warned Iran's customers they must reduce their purchases of oil to zero or face US penalties, although it has issued 180-day waivers to eight "jurisdictions" that will allow them to continue importing Iranian oil. "Today the enemy (the United States) is targeting our economy. the main target of sanctions is our people", Rouhani said.

US officials have said the aim of the sanctions is eventually to stop all Iran's oil exports. "And as far as the United States is concerned, they are well aware about our expectations of the requirement which we have for oil domestically and which is very critical for sustaining our economic growth". "We have no problem to talk on the condition that the other side attaches value to its obligation", Rouhani said during a meeting at the headquarters of the Ministry of Economy and Finance.

US President Donald Trump withdrew from the 2015 nuclear deal in May and gave nations and businesses 180 days to wind down their oil purchases to "zero". Other parties to the deal, including Britain, France, Germany, China and Russian Federation, have said they will not leave the deal. 300 targets of the reimposed sanctions are new. "We will take a look at the letter and respond accordingly", he said.

Last year, Iran was the sixth-biggest oil exporter in the world.

The "senior" cleric, who is Friday Prayer leader in Mashhad, also warned Iran could send the price of oil skyrocketing to $400 a barrell by confiscating tankers and creating a blockage in the Persian Gulf.

Iran will continue to sell its crude oil in the worldwide market despite "cruel" USA new sanctions, Rouhani said.