South Korea gets United States exemption on Iran crude oil imports

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Mr Rouhani said four countries had approached him during his visit to NY for the UN General Assembly in September, offering to mediate with the United States, but he turned them down.

Speaking at a daily news briefing in Beijing, Foreign Ministry spokeswoman Hua Chunying did not directly comment on whether China had been granted exemption from the Iran sanctions by the United States. The waivers were only given to countries that are seriously trying to cut out their imports of Iranian oil.

Iran is already in the grip of an economic crisis, and has seen sporadic protests in recent months as Iranian officials have tried to downplay the sanctions and their effects. "We are in the economic war situation". America should learn that it can not use the language of force against Iran. If there were any, the United States would "aggressively pursue our remedies", he said.

"US bullying is backfiring".

US President Donald Trump unilaterally withdrew Washington from the pact in May despite objections from close allies in Europe.

He said privatizing state assets, for example, could free a significant portion of capital to be exploited by the public for new development plans.

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Fifty-two Americans were held captive for 444 days after Iranian students stormed the building, leading the U.S. to cut off all diplomatic relations.

In parallel with the imposition of the crude oil sanctions, the US Treasury Department is placing more than 600 Iranian individuals and entities on a black list.

The US on Monday warned companies globally that they would be subject to severe penalties if they continued to have sanctionable commercial transactions with Iran, as it tightened the nooses around the Iranian regime with a set of toughest ever American sanctions.

South Korea, a USA ally and one of Asia's biggest buyers of Iranian oil, asked Washington for "maximum flexibility" last week, after some of its construction firms cancelled energy-related contracts in Iran due to financing difficulties. As long as Iran met its obligations under the deal, Britain would be committed to it too.

The Trump administration though has granted exemptions to eight countries to continue importing Iranian oil, without naming them.

Rouhani said four countries had approached him during his visit to NY for the UN General Assembly in September, offering to mediate with the U.S. but he turned them down.

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Iran is OPEC's third largest oil exporter. We've got Brent crude at about the same price it was back in May when the president announced the withdrawal from the JCPOA. US light crude (CLc1) was 35 cents lower at $62.79 a barrel.

Monday's announcement specified which countries are getting those waivers, and they include Iran's top oil customers China and India. In granting waivers, Washington is trying to ensure that global oil prices don't spike, especially in the middle of the USA election season.

"The president's policy of maximum pressure will be fully in place come tomorrow", Pompeo said during the interview.

Avigdor Lieberman said in a tweet on Monday that the Trump administration's decision to restore sanctions "is the sea change the Middle East has been waiting for".

In general, countries are now supposed to avoid buying Iranian crude, unless they want to incur American wrath.

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Pompeo said: "Every effort is aimed at giving the Iranian people the government that they not only want but deserve". That was one of the most ridiculous deals ever made by any country, at any time: "the Iran nuclear deal", he said.