How can Iran sell its oil bypassing U.S. sanctions?

Maja Kocijancic EU spokeswoman for foreign affairs

Maja Kocijancic EU spokeswoman for foreign affairs

The fresh USA sanctions on Iran's economy are aimed at exerting pressures on the Iranian people, Iran's President Hassan Rouhani said here on Saturday.

The current temporary waiver is conditional on Iraq not paying Iran for imports in USA dollars. The bans had been lifted under the 2015 nuclear deal, officially known as the Joint Comprehensive Plan of Action (JCPOA).

Gulf expert Dr Neil Quilliam said: "Times have changed and the Iranian economy is more fragile than at any time before, so the government will come under considerable domestic pressure to negotiate with the United States".

The President stressed that the USA just issued a long list of banks, their branches, and airlines and their planes, which shows that they are merely trying to affect the Iranian nation psychologically.

"It has now become clear that America can not cut Iran's oil exports to zero", Rouhani added, speaking after a weekly meeting with the heads of the parliament and the judiciary. However, it has finally agreed to grant waivers to eight biggest importers of Iran's oil - China, India, South Korea, Japan, Italy, Greece, Taiwan and Turkey - in fear of a price spike.

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They rallied under a banner that said "Trump War" and slammed policies such as USA help for the Saudi-led war in Yemen. Mr Macron defended his viewpoint, saying he shares Mr Trump's insistence that there be more burden sharing.

After Iran made concessions on the nuclear program, in 2016 the USA authorities announced the lift of sanctions from 59 individuals (citizens of Iran and other countries), 385 enterprises, 77 planes and 227 ships. These sanctions will be imposed from forthcoming week and will cover Iran's finance, shipping and energy sectors.

Last week, the USA administration said it would temporarily allow eight importers to continue trading oil with Iran.

In 2018, the Trump administration restored sanctions against Iran.

In related news, the US State Department announced that the Special Representative for Iran Brian Hook will travel to Israel and the United Arab Emirates between November 12 and 20, where he is expected to meet officials and discuss cooperation on countering Iranian threats.

U.S. President Donald Trump announced in May that Washington was withdrawing from an agreement on a nuclear program with Iran.

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