Published: Wed, November 07, 2018
Finance | By Gustavo Carr

Japan's Biggest Oil Firm Considers to Resume Iranian Oil Imports - Spokeswoman

Japan's Biggest Oil Firm Considers to Resume Iranian Oil Imports - Spokeswoman

On Monday, the US government officially re-imposed all of the sanctions on Iran that were suspended as a result of the nuclear deal signed during President Barack Obama's tenure.

The Trump administration reimposed numerous sanctions that the Obama administration relieved under the 2015 Iran nuclear deal, and said the sanctions would continue until Iran ended its backing for terrorism, its missile program and its adventurism in the Middle East.

Iranian Foreign Minister Javad Zarif, however, told USA Today his government is open to talks with the US if the Trump administration changes its approach to the nuclear deal.

Trump announced in May his government was withdrawing from what he called the "worst ever" agreement negotiated by the United States. "But whether it is a blanket waiver or India can continue imports without attracting secondary sanctions after the existing contracts expire will be known only once the details are out", an official in the know said.

"We hope a new agreement with Iran is possible".

"America wanted to cut to zero Iran's oil sales... but we will continue to sell our oil... to break sanctions", he said. "Today the enemy (the United States) is targeting our economy. the main target of sanctions is our people", Rouhani said.

USA sanctions on Iran kicked in from Monday.

"China opposes unilateral sanctions and long-arm jurisdiction", AFP quoted foreign ministry spokeswoman Hua Chunying as saying at a regular briefing with reporters on Monday.

Iran and the P5+1, the United Nations Security Council's five permanent members -the USA, the UK, France, Russia, and China - plus Germany, reached the Iran nuclear deal in July 2015.

The former CIA Director said that "specific circumstances" have warranted temporary allotments to a handful of countries, with China, India, Italy, Greece, Japan, South Korea, Taiwan, and Turkey being exempted from the sanctions.

Powerful Shia cleric Ayatollah Ahmad Alamolhoda issued the chilling warning to the Trump administration about the consequences of cutting off Iranian oil exports in its latest round on sanctions.

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"At the current level, Iran is providing about 2.7 million barrels of oil per day to the worldwide community".

Crude from the Kirkuk field in northern Iraq is being shipped by truck to Iran.

The Trump administration also designated more than 200 persons and vessels in Iran's shipping and energy sectors, including the Islamic Republic of Iran Shipping Lines, which is a maritime carrier, and oil transport giant National Iranian Tanker Company.

Talking at the meeting, the new Economy Minister Farhad Dejpasand said Iran has "plans" to overcome sanctions.

The sanctions target third parties that deal with Iran.

Not all of the sanctions were reimposed.

Speaking on Iran's nuclear program, three non-proliferation projects have been allowed to continue, which will improve oversight on the country's civil nuclear program and "make these facilities less susceptible to illicit and illegal nuclear uses".

The Belgium-based SWIFT financial messaging service said on Monday it is suspending some unspecified Iranian banks' access to its messaging system in the interest of the stability and integrity of the global financial system.

The EU, France, Germany and Britain said they regretted the United States decision and would seek to protect European companies doing legitimate business with Tehran.

Meanwhile, the Democratic Party leadership criticised Trump for giving exemptions to some of the major Iranian oil importers.

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