Anger, fear and defiance in Iran as USA sanctions return

Prepare for $90 oil after sanctions against Iran take effect – analyst

China Stringer Network Reuters

Iran´s Foreign Minister Mohammad Javad Zarif told reporters the global reaction to Trump´s move showed that the USA was diplomatically "isolated", but acknowledged the sanctions "may cause some disruption". The U.S. move has dismayed America's European allies trying to preserve the nuclear deal.

Iranian President Hassan Rouhani, in a speech broadcast on state television, said the United States can not be trusted because it withdrew from the worldwide pact, whose other signatories still support it.

Looming US sanctions against Iran will likely hit Tehran's oil sales overseas, and it could lead to a price spike in oil contracts.

Sogand, a young Iranian-American, came to live in Iran for the first time five years ago and had enjoyed the thaw in global tensions that accompanied the nuclear deal.

The sanctions went back into effect early on Tuesday and target financial transactions that involve USA dollars, Iran's automotive sector, the purchase of commercial planes and metals including gold.

He also reiterated that on November 5, the United States would also resume sanctions against Iran's energy-related transactions, as well as business conducted by foreign financial institutions with the Central Bank of Iran.

"In my opinion, there is a good chance of that".

Most Iranians see U.S. hostility as a basic fact of life, so their frustration is largely directed at their own leaders for not handling the situation better.

Mr Trump signed an executive order reintroducing financial sanctions on Iran and sent a letter to the leaders of Congress notifying them of changes, as required by USA law.

"They want to launch psychological warfare against the Iranian nation", Mr Rouhani said.

Administration officials told The Associated Press that the renewed sanctions were not an attempt to topple the Iranian government.

The European Union Foreign Policy Chief Federica Mogherini says the EU is encouraging investors to maintain business ties with Iran to preserve the nuclear deal, despite the U.S. withdrawal.

"Most of the companies have already made up their mind, whether it's the German Siemens, the French carmaker PSA, the Danish Maersk - all these companies that have said they don't want to risk losing access to the United States market, they don't want to risk losing access to the financing in dollars by U.S. banks, and also they don't want to lose their USA shareholders". "Negotiations with sanctions doesn´t make sense". "Our stated policy is not to bring about regime change but to change behavior of the regime", said one of the officials.

Asked about threats to close the Strait of Hormuz, Mr Bolton said that would be Iran's "worst mistake yet".

"If the ayatollahs want to get out from under the squeeze, they should come and sit down". Renault, Total, Peugeot, General Electric, Boeing, Hyundai, Mazda, IndusInd Bank and other major companies have either left Iran or asked their investors to do so before the return of USA sanctions.

It sets out to allow firms to recover damages from bodies that enforce United States sanctions - and bans companies from complying with USA sanctions without European Union permission.

Liverpool target Nabil Fekir won't rule out Lyon exit this week
Real Madrid target Juventus star as a replacement for Modric