Seoul granted waiver to buy Iranian oil

Targeting Iranian oil exports will hurt Tehran finances but also the oil market's balance

The exercises are annual affairs, but the airing of the pictures was a clear message of defiance to the USA and its allies. Oil is the country's top export.

Iran denied its nuclear program was directed at producing nuclear weapons as it reached the 2015 agreement with the United States, Britain, China, France, Russia and Germany. Iranian revolutionary activists held more than 50 Americans hostage for 444 days.

Finally, the secretary of state said the administration would provide waivers for European nations for civil nuclear cooperation at a few Iranian facilities. The exemption will allow China, India, Japan, South Korea, Taiwan, Italy, Greece and Turkey, to continue trading with Iran as normal.

Tehran vowed to defy the economic war while Iranian clerical rulers have dismissed concerns about the impact on the economy. "Today the enemy (the United States) is targeting our economy. the main target of sanctions is our people", Rouhani said.

"We continue negotiations to get all of the nations to zero", said Pompeo.

"The US allies are seeking to oppose the US unilateralism to show their economic independence from US politics".

Iranian officials expressed their gratitude for South Korea's prior consultations on the sensitive issue, the source said.

USA sending up to 5,200 troops to border with Mexico
His experience with the caravan had taught him one thing, he said: "The next time, I'm going to need a 'coyote, '" or smuggler. If an asylum seeker enters the United States illegally, they are still entitled to a hearing of their claim.

At Washington's urging, SWIFT, the global messaging network that connects the world's financial institutions, said it is suspending its service for some unspecified Iranian financial institutions.

The president added, "Some think that we negotiated and came to conclusion in nuclear talks which was as a great success, but the USA ruined this success". Other parties to the deal, including Britain, France, Germany, China and Russian Federation, have said they will not leave.

China expressed regret over Washington's decision to reimpose sanctions on Iran.

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

However eight countries have been granted a temporary exemption for six months despite United States warning previously that it would be harder for Iran's oil importers to get a waiver. The latest round largely targets oil exports from Iran, OPEC's third-largest crude producer. U.S. West Texas Intermediate (WTI) crude CLc1 futures fell 4 cents to US$ 63.10 a barrel. But traders and analysts say that figure could rise from December as importers use their waivers. The fear was that the sanctions deadline would have pushed oil prices sharply higher.

Iranian President Hassan Rohani said even without the waivers Iran would still be able to sell its oil, semi-official Tasnim news agency reported. Many should choose the United States, or have already done so. Campaigning in Chattanooga, Tennessee, on Sunday, Trump said his "maximum pressure" against Iran was working.

"Treasury's imposition of unprecedented financial pressure on Iran should make clear to the Iranian regime that they will face mounting financial isolation and economic stagnation until they fundamentally change their destabilizing behavior", Steven Mnuchin, the Treasury Secretary, said in a statement Monday, the day the sanctions kicked in.

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