Iran urges UN to hold US to account over sanctions

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The Trump administration on Monday reimposed the last set of sanctions lifted under the Iran nuclear deal.

"Eight countries will receive sanctions waivers, however, including four of Iran's top oil consumers: India, China, South Korea and Japan", the Jerusalem Post acknowledges, referring to the new US restrictions.

In a big relief for India, which is the third largest importer of crude oil in the world, U.S. has exempted it from oil sanctions on Iran along with seven other countries.

US President Donald Trump on Monday (Nov 5) said he wants to impose sanctions on Iran's oil gradually, citing concerns about shocking energy markets and causing global price spikes.

A senior official of Marubeni Corp. said it would be hard to land a deal in Iran as long as U.S. President Donald Trump's administration continues its aggressive posture toward Tehran. "Iranian exports show a decline of more than 1 million barrels per day (bpd) as of October from May", said Edward Bell of Emirates NBD bank.

Iran will sell its oil despite United States sanctions - President Rouhani
That'll take us some number of months to do that. "America has been defeated by the Islamic Republic over the past 40 years". Jafari said, referring to the failed American mission to rescue the hostages known as Operation Eagle Claw.

Iranian President Hassan Rohani said even without the waivers Iran would still be able to sell its oil, semi-official Tasnim news agency reported.

In Jerusalem, Israeli Prime Minister Benjamin Netanyahu hailed what he called Trump's courageous decision in reimposing the sanctions on Iran, an arch-foe of Israel. Iran reacted angrily with air defence drills with its President saying that the nation faces a "war situation", raising tensions in West Asia.

The first round of the anti-Iran bans - which had been lifted under the accord - were re-imposed in August.

Iran's clerical rulers dismissed the curbs.

"Allowing these activities to continue for the time being will improve ongoing oversight of Iran's civil nuclear program", Pompeo said, "and make these facilities less susceptible to illicit and illegal nuclear uses".

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In May, President Donald Trump announced that the USA would withdraw from the agreement.

In reaction, a senior Iranian official who declined to be identified said Tehran was not concerned about the sanctions and will not yield to pressure to change its policies.

"We believe that China's normal cooperation (with Iran) within worldwide law is legal and legitimate, and this shall be respected".

The US sanctions herald the end of Washington's involvement in the landmark 2015 deal signed between Iran, the US and other world powers, which was created to curb Iran's nuclear ambitions.

The second wave of renewed US sanctions on OPEC's third largest exporter officially started on Monday targeting Iran's energy, shipbuilding, shipping, and financial sectors. "We're not simply going to be content with the level of sanctions that existed under [former USA president Barack] Obama in 2015", Bolton said in an interview with the cable channel.

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