Trump Announces Return of U.S. Sanctions on Iran

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Part of me is exhausted even mentioning Trump's Twitter account, and part of me is fascinated by the way Game of Thrones has wormed its way in to the world of politics.

For a few years now, Donald Trump's Twitter feed has been one of the most hot-button areas of the internet, with the president regularly tweeting something incendiary or odd and people regularly reacting with outrage, confusion and other emotions up and down the spectrum. Under U.S. law, such exceptions can only be granted for up to 180 days.

The sweeping sanctions will see 700 people blacklisted, the US Treasury has announced. He declined to name the targeted institutions.

The Trump administration on Friday announced the reimposition of all US sanctions on Iran that had been lifted under the 2015 nuclear deal.

"This part of the campaign is aimed at depriving the regime of the revenues it uses to spread death and destruction around the world, Pompeo said".

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Eight countries are getting waivers so they can continue temporarily importing Iranian oil.

The sanctions will take effect Monday and cover Iran's shipping, financial and energy sectors.

"America will not be able to carry out any measure against our great and fearless nation".

An Iranian government spokesman says the country remains nonchalant about the sanctions being re-imposed.

However, ordinary Iranians fear an even more painful squeeze on living costs, from businesses struggling to buy raw materials to the sick and elderly unable to afford life-saving medicines.

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The UK, France, Germany, Russia and China are also parties to the 2015 accord and have stuck to it. The EU is creating a special mechanism that would circumvent US financial sanctions on Iran.

The US has told various countries, including India, to cut oil imports from the Persian Gulf nation to "zero" by November 4 or face sanctions.

The National Iranian Oil Company has signed a deal with state-owned Zarubezhneft to develop two oil fields, Aban and Paydar-e Gharb, in Iran.

Oil prices fell about 1 percent on Friday, heading for a weekly loss of over 6 percent, as investors anxious about oversupply after the US waivers.

The country's refiners imported around 10 million barrels, or about 1.4 million tonnes, of Iranian crude in October. US crude [CLc1] fell 65 cents to $63.04 per barrel, a 1 percent loss.

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