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05 November 2018, 01:13 | Devin Moran
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Rouhani insisted on state TV that Iran will "sell its oil and it will sell" despite the crippling sanctions.
Most global sanctions on Iran were lifted in early 2016 under a deal Iran signed with world powers the year before in which it curbed its uranium enrichment program, widely seen overseas as a disguised effort to develop an atomic bomb.
On Monday, 5 November, the USA will not only be re-imposing the sanctions that were in place before the insane Iranian nuclear deal was entered into, but there'll be over several hundred designations, Pompeo said.
The new American sanctions particularly hurt Iran's vital oil industry, a crucial source of hard currency for its anemic economy.
"I announce that we will proudly bypass your illegal, unjust sanctions because it's against worldwide regulations", Rouhani said in a televised speech.
Promoted by the Trump administration as the "strongest sanctions in history", the reality of the new restrictions does not match its original hype, according to the BBC.
The State Department said on Friday it has closed the "Obama-era condensate loophole", which allowed countries to continue importing the byproducts of oil and natural gas from Iran even while sanctions were in place. "But they're not doing very well", he said.
Secretary of State Mike Pompeo said the USA aimed to reduce Iranian oil sales to zero.
Another said: "America is not our enemy, our enemies have taken us as hostages in our own home [country]".
While the concession will definitely blunt the impact of U.S. nuclear sanctions on Iran, Pompeo justified it by saying the list of waivers is far smaller than the 20 countries that were exempted from American sanctions under the previous Barack Obama regime.
"The effect of the initial sanctions is already being felt - the rial is at a low, Iran's economy is depressed and we're already seeing results on the ground", he added. Its rial currency lost more than two-thirds of its value since May and now trades at 145,000 to one U.S. dollar, down from 40,500 to $1 a year ago.
Washington also says it wants to stop what it calls Tehran's "malign" activities including cyber attacks, ballistic missile tests, and support for terror groups and militias in the Middle East. "The whole world understands these sanctions are real", he said during an interview of CBS'sFace the Nation.
Another signatory to the nuclear deal, China, has said it regrets the the re-imposition of sanctions and that its lawful trade with Iran should be respected.
"Trump thinks that he can take the worldwide community with him as he embarks on his economic war against Iran".
Iranian President Hassan Rouhani speaks during parliament's open session on confidence vote for four new ministers, in Tehran, Iran, October 27, 2018. Britain, France, Germany and the European Union strongly condemned the latest actions from Washington in a joint statement, and have vowed to preserve the nuclear deal, known formally as the Joint Comprehensive Plan of Action (JCPOA).
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Taylor became mayor of North Ogden, a city of about 17,000 people 46 miles north of Salt Lake City, in 2013. We must rally around his family. "I wish them all the comfort and courage to face the hard days ahead".