Iranian marchers chant 'Death to America' on eve of United States oil sanctions

Geneva Stokes
November 4, 2018

A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf, Iran, July 25, 2005.

Iran called on Saturday for European assurances of support in the face of Washington's intent to reimpose sanctions on vital Iranian oil sales to force Tehran to curb its nuclear, missile and regional activities.

Iran's annual rally to mark the storming of the U.S. embassy and hostage-taking of 1979 had particular significance on Sunday (Nov 4) on the eve of renewed sanctions by Washington.

He said the countries agreed that the payments for the oil would go into escrow accounts that Iran will only be able to tap for "humanitarian trade, or bilateral trade in non-sanctioned goods and services".

Iranians chanting "Death to America" rallied on Sunday to mark both the anniversary of the seizure of the US Embassy during the 1979 Islamic Revolution and the imminent reposition of US sanctions on Iran's key oil sector.

"Iran's oil exports are falling rapidly, and perhaps more and more in the weeks to come", Fatih Birol, executive director at the International Energy Agency, said in a Bloomberg television interview.

The sanctions had been lifted under the 2015 nuclear deal with Iran and reimposed by Mr. Trump, who announced the USA would withdraw from the pact earlier this year.

Japan has been among the nations seeking waivers on the US -led ban on oil imports from Iran.

US President Donald Trump withdrew from its 2015 nuclear deal with Iran in May, describing it as "defective at its core".

The Trump administration created a list of demands Iran would need to meet for sanctions to be lifted, including completely halting its nuclear and ballistic missile program and ending military engagement in Syria and Yemen. It's the second batch of penalties that the administration has re-imposed since President Donald Trump withdrew from the landmark deal in May.

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Iran's First Vice President Es'haq Jahangiri was quoted by media as saying that the government of President Hassan Rouhani had already devised mechanisms to counter the impacts of returning U.S. sanctions against the country's oil exports.

Supreme Leader Ayatollah Ali Khamenei also said Iran's arch-adversary the United States had failed to reassert its domination over Iran since the country's 1979 Islamic Revolution that toppled the USA -backed Shah.

On these, as on other topics, our work continues, including with Russian Federation and China as participants to the JCPOA and with third countries interested in supporting the JCPOA. These sanctions hit at core areas of Iran's economy.

The United States says it plans to issue temporary waivers to several countries, allowing them to continue purchasing Iranian oil without being subject to forthcoming US sanctions.

Pompeo added that the sanctions are "aimed at fundamentally altering the behavior of the Islamic Republic of Iran".

Turkey has been told it will temporarily be allowed to keep buying Iranian oil, its energy minister told reporters, as has Iraq, as long as it does not pay Iran in USA dollars, three Iraqi officials said.

"We will ultimately move Iran to zero crude oil".

Trump tweeted a picture of himself in front of an icy-effect grey background, with "sanctions are coming" in Game OF Thrones style font.

Pompeo said the United States will be issuing temporary, six-month waivers for eight jurisdictions that have significantly reduced, though not eliminated, their imports of Iranian oil.

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