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US unable to bring Iran’s oil to zero: Rouhani

US unable to bring Iran’s oil to zero: Rouhani
In July, the U.S. said it would reduce Iranian oil revenue to zero

By Muhammet Kursun

TEHRAN (AA) – Iranian President Hassan Rouhani said Saturday the U.S. will not be able to bring the Islamic Republic’s oil exports to zero.

Washington announced new sanctions on Monday targeting Iran's energy and financial sectors along with its shipping industry.

Speaking during a meeting with Parliament Speaker Ali Larijani and Judiciary Chief Sadeq larijani, Rouhani said the “wrong sanctions” targeted the lives of the Iranian people who had “a firm stand” against them.

“Because when you apply sanctions on banks you target medicine and other medical needs,” Rouhani elaborated.

Last week, the U.S. administration said it would temporarily allow eight importers to continue trading oil with Iran.

Although the Trump administration has not yet named the eight countries, the top importers of Iran's oil including China, India, South Korea, Turkey, Italy, the U.A.E. Japan and Taiwan, are expected to temporarily continue to buy Iranian oil.

- U.S.-Iran tension

Tension between Washington and Tehran mounted since May, when Trump unilaterally withdrew his country from the 2015 landmark nuclear deal signed between Iran and the P5+1 group of nations -- the five permanent UN Security Council members: the U.S., Russia, China, Britain, and France, plus Germany.

The 2015 agreement placed strict restrictions on Iran’s nuclear program in exchange for billions of dollars in sanctions relief.

He also announced that he would reinstate sanctions against Tehran, which were lifted by the agreement in exchange for tight restrictions on the country's nuclear program.

On July 2, the U.S. State Department announced its intention to reduce Iranian oil revenue to zero. The following day, Rouhani warned that if the U.S. impeded Iran’s oil exports, those of the region’s other oil producers would suffer a similar fate.

In August, the U.S. imposed the first round of economic sanctions on Iran, which mainly targeted the country’s banking sector.

source: News Feed
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