Sanctions cover 50 banks, 200 persons, vessels and Iran Air

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The United States imposed strict sanctions targeting Iran's oil, banking and industrial sectors on Monday and threatened more action to stop Tehran from pursuing "outlaw" policies, steps the Islamic Republic condemned as economic warfare and vowed to defy.

The 2015 Iranian nuclear deal rolled back sanctions against Tehran in exchange for a reduction in the country's nuclear abilities.

The Russian envoy said he has traveled to Iran on Putin's orders for a twin mission: to give a report on a recent 4-party meeting of Russia, Turkey, Germany and France on the situation in Syria that was held in Istanbul, and to voice Moscow's unequivocal support for Iran against the fresh round of USA sanctions ...

The US has exempted three Iranian nuclear sites from sanctions, but warned that they will be under strict scrutiny, the State Department said.

Washington has agreed to let eight countries keep buying Iranian oil.

The price pressure on oil has scared off financial traders.

The sanctions target Iran's vital oil industry, although major customers such as China and India were given temporary exemptions.

Pompeo said the waivers were issued to countries that have already cut purchases of Iranian crude over the past six months, and to "ensure a well-supplied oil market". Iran's biggest oil buyers in recent years have been China, India, South Korea, Turkey, Italy, the United Arab Emirates and Japan. That should have driven oil prices up due to concerns over lack of supply. "I don't think that in the history of America, someone has entered the White House who is so against law", he said in a televised speech.

"Sanctions will mostly hurt children and poor people. We have to stand to win".

"It would be up to the judgment of private firms, but based on this decision, the (Japanese) companies would likely prepare for resuming Iran crude imports", Seko told reporters.

Combined output from Russian Federation, the United States and Saudi Arabia rose above 33 million bpd for the first time in October, up 10 million bpd since 2010, with all three pumping at or near record volumes.

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Western nations say Iran aims to build nuclear weapons.

After pulling the USA out of the deal struck between Iran and six major powers - Britain, China, France, Germany, Russia and the United States - the administration began reimposing sanctions on the Islamic Republic in August.

The Treasury said its Office of Foreign Assets Control will continue to maintain humanitarian authorizations and exceptions that allow for the sale of agricultural commodities, food, medicine, and medical devices to Iran.

"The regime to date since May has lost over $2.5 billions in oil revenue".

Diplomats told Reuters last month that a new European Union mechanism to facilitate payments for Iranian oil exports should be legally in place by November 4 but not operational until early next year.

This could mean European and other banks and businesses face secondary sanctions if Washington deems them in breach of sanctions, and U.S. officials have been pressing SWIFT to act.

Hoyer alleged that by "tearing" up the Joint Comprehensive Plan of Action (JCPOA), the Trump administration has isolated the United States and undermined the multilateral efforts to curb Iran's "dangerous" behaviour.

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.

"The Iranian regime has a choice". Sanctions the Obama administration imposed in 2010 included the Central Bank, effectively cutting off Iran from any USA cash dealings, and the resulting pressure helped bring Iran to the talks that led to the Iran deal.

An effigy of U.S. government icon "Uncle Sam" is held up by demonstrators during a rally in front of the former U.S. Embassy in Tehran, Iran, on Sunday, Nov. 4, 2018, marking the 39th anniversary of the seizure of the embassy.

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