Published: Thu, July 19, 2018
Worldwide | By Jermaine Blake

New US sanctions on companies operating in Iran to return within weeks

New US sanctions on companies operating in Iran to return within weeks

Iran says if President Donald Trump wants to negotiate after pulling the United States out of the global deal meant to prevent Tehran from developing nuclear weapons, he'll have to make the call.

Meanwhile Iran's supreme leader on Sunday called on state bodies to support the government of President Hassan Rouhani in fighting looming USA economic sanctions, saying that America's "conspiracy" could be defeated.

The US says the countries purchasing oil from Iran should prepare themselves to completely stop the Iranian crude imports by November as Washington re-imposes sanctions against Tehran.

Crude oil prices sank Monday on reports the US will take a softer stance on countries that import oil from Iran after sanctions on Iran's energy sector go back into effect.

The goal of turning to the ICJ is "to hold (the) United States accountable for its unlawful re-imposition of unilateral sanctions", Foreign Minister Mohammad Javad Zarif wrote earlier in the day on Twitter.

The second set of United States sanctions on Iran is scheduled to commence from November 4 and Washington has urged New Delhi and Beijing among others to reduce oil import to zero by then.

"So, yes, we're using every element of American power to try and achieve (that) end, to try and get Iran to behave in a way that is rational and normal", he said.

PTI quoted amid concerns over the import of oil from Iran following USA sanctions, India as saying that whatever is mandated to be done in its national interest will be done.

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"We want people to reduce oil purchases to zero, but in certain cases if people can't do that overnight, we'll consider exceptions", Mnuchin told reporters on Friday, clarifying some USA officials' comments that there would be no exemptions.

"Views were also exchanged on regional and global issues of mutual interest, including the efforts being made by various parties to address issues that have arisen over the Joint Comprehensive Plan of Action (JCPOA)", the Ministry of External Affairs (MEA) said without elaborating.

"The State Department has the ability to issue waivers around significant reductions in the oil markets".

"It's imperative to counter its habit of violating int'l law", he added.

"Iran is committed to the rule of law in the face of United States contempt for diplomacy and legal obligations".

Harsh economic sanctions on Iranian entities and groups with links to Tehran have been central to the Trump administration's policy in the region.

However, the Trump administration pulled out of the deal in May and brought back economic sanctions against Tehran.

The Organization of the Petroleum Exporting Countries (OPEC) agreed with Russian Federation and other oil-producing allies on June 23 to raise output from July, with Saudi Arabia pledging a "measurable" supply boost, but giving no specific numbers.

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