Theresa May slams Donald Trump's sanctions on Iran

A Saudi Arabian oil facility

Arabian oil facility

Rouhani then noted another victory for Iran, in which the USA was forced to agree to let eight countries, including Japan, India and South Korea, keep buying Iranian oil after the re-imposition of sanctions on November 5, even though Trump had previously vowed to cut Iran's oil sales to zero.

Iranian President Hassan Rouhani said the country will continue selling its oil and break the second batch of sanctions the USA administration reinstated since President Donald Trump unilaterally pulled out of the nuclear deal in May.

The United States reimposed sanctions on Iran's oil industry and financial sector Monday, following through on President Donald Trump's pledge to roll back relief Iran received as part of the worldwide agreement to limit its nuclear program. "Iran is a much different country since I terminated that deal".

"Constantly they are sending us messages saying, 'Let's sit and negotiate.' Negotiations for what?" said Mr Rouhani.

Iran's national currency, the rial, now trades at 145,000 to one USA dollar - down from 40,500 to $1 a year ago. Exports peaked at 2.8 million barrels per day in April, including 300,000 barrels per day of condensate, but have fallen to 1.8 million bpd since then, according to WoodMac, which expects volumes to drop further to 1 million bpd.

'We are in the economic war situation. The waiver would be granted for six months period and then would be re-evaluated by the United States, Special US Representative on Iran, Brian Hook told reporters.

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Education and health services saw the largest overall employment increase, with this industry adding 46,700 jobs last month. The employment-to-population ratio rose to 60.6 per cent, the highest since January 2009, from 60.4 in September.

Also Monday, Iran's Telecommunication Minister Mohammad Javad Azeri Jahromi and his deputy, Hamid Fatahi, both tweeted about a cyberattack targeting the country's communications infrastructure, without elaborating.

"The impact will be severe, and we see it in the acute economic situation in Iran today", said Riad Kahwaji, founder and CEO of the Institute for Near East and Gulf Military Analysis in Dubai.

U.S. Secretary of State Mike Pompeo said on Sunday the penalties returning on Monday were "the toughest sanctions ever put in place on the Islamic Republic of Iran".

Taking effect Monday, the measures are the most concrete result yet of US President Donald Trump's controversial decision in May to abandon the multi-nation nuclear deal with Tehran.

India, the world's third-biggest oil consumer, meets more than 80 per cent of its oil needs through imports.

He hammered the Iran nuclear deal on the campaign trail, and rebuffed pleas by Mrs May and other world leaders to stick to it once in power.

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On Friday Secretary Mnuchin and Pompeo held a conference call with reporters explaining the scope of sanctions.

Thousands joined rallies in Tehran and other cities, carrying placards that mocked President Donald Trump, wiping their feet on fake dollar bills, and engaging in the usual ritual of burning the USA flag.

Rouhani pledged to government officials in his remarks that Iran would overcome the United States embargo.

Days ahead of the U.S.'s important midterm elections, Donald Trump has continued on his crusade to stoke fear in the hearts of America's conservatives with blatant lies and racism.

Israeli Prime Minister Benjamin Netanyahu on Monday called the start of new United States sanctions against his country's main enemy Iran a "historic day" that will reduce Tehran's "aggression" in the region. "And we're going to provide that to them".

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