China frustrates U.S. efforts to end Iran's oil exports

12 2017 shows a Panamanian tanker docking at the platform of an Iranian oil export facility in the Persian Gulf

"There are rising concerns, all this time we have uncertainties on the Iran sanction and uncertainties over tariffs, as we certainly don't need any more trigger for a significant swing [in prices] in one way or another", said Jim Ritterbusch, an analyst in Galena, Illinois.

In order to pass through tough times ahead the returning USA sanctions, we need to promote our cooperation with global power like China, Russia, and the EU, Akhoundi said on August 5, IRNA news agency reported.

"We need to create a future full of hope for our people", he stressed.

Iran has been furious over U.S. President Donald Trump's decision to pull out of an global nuclear deal and reimpose sanctions on Tehran.

In June, the USA state department said that countries buying oil from Iran should bring down to zero their Iranian crude imports by the time Washington re-imposes sanctions on November 4.

Unfazed, the administration has warned that even allies would face sanctions if they didn't show “significant” progress in reducing Iranian oil purchases by November 4, ruling out broad exemptions or waivers.

Protests have broken out in Iran since the beginning of the year over high prices, water shortage, power cuts and alleged corruption.

The Trump administration argued that the nuclear deal, which lifted some economic sanctions in exchange for restrictions on Tehran's nuclear program, was fatally flawed because it didn't address the country's destabilizing behavior or limit its development of ballistic missiles, among other things.

China warns against blackmail as Donald Trump considers higher tariffs
Two Trump administration officials told reporters on a conference call that Trump remains open to communications with Beijing. The US Senate last week passed legislation which if enacted would lower trade barriers on hundreds of Chinese imports.

Last week, Hindustan Petroleum was said to have cancelled a crude oil shipment from Iran after its insurer refused to provide coverage for the cargo on concern about USA sanctions.

As part of the withdrawal, the USA will on Monday begin to sanction Iranian transactions with US dollar banknotes; trade in gold and precious metals; direct or indirect sales of graphite, raw or semi-finished metals; and Iran's automotive sector.

The first phase hits on Tuesday with blocks on financial transactions and imports of raw materials, as well as sanctions on Iran's automotive sector and commercial aircraft purchases.

Iran's state-run ISNA news agency reported that the five Franco-Italian ATR72-600 airplanes, which are twin-engine turboprops, had arrived at Tehran's Mehrabad International Airport.

"Based on existing agreements, five new ATR aircraft will land at Mehrabad Airport at 9am (04:30 GMT) tomorrow [Sunday]", the national carrier said on its Telegram channel.

"When we decide anything on Iran, we will inform you".

The move was condemned by U.S. allies including the UK, Germany and France.

"In November, when oil sales are affected, we will have a clearer view of the impact on daily lives".

Related News:



Most liked

India awaits Kohli magic in England Tests
Naturally, you have friendships with them, but on the field they seem to be forgotten and everyone is competitive. In fact, India vulnerabilities were exposed when they played a warm-up match against Essex.

Leaked document shows Google's plans for its censored search engine in China
Other analysts cited China's "long memory" of past criticism from Google executives, the Wall Street Journal says (paywall). Despite pulling its search engine in 2010, Google now has more than 700 employees in China, according to the Times .

USA says remains returned by North Korea likely American
But forensics experts say that identifying the remains may take years, according to a report by New York Magazine on Wednesday. In April, the leaders of North and South Korea met and agreed to work toward a permanent peace treaty that would end the war.

USA security chiefs: our country is in Russian crosshairs
Stewart, a member of the House Intelligence Committee, said he's often asked what he sees as the biggest threats to the U.S. Homeland security chief Kirstjen Nielsen said: "Our democracy is in the crosshairs".

Sales tax holiday starts Wednesday
It's Back to School season on the First Coast and parents will have the opportunity to save on school supplies this weekend. In Wake County, according to a table from the state Department of Revenue, the total sales tax is 7.25 percent.

RBI hikes lending rate, loans likely to become dearer
The Bank of England will also release its latest forecasts for economic growth, jobs and inflation on Thursday. The Bank of England (BoE) has raised the interest rate in the United Kingdom for the second time in a decade.

Apple has become America's first trillion-dollar company
Apple said it expects revenue of $60 billion to $62 billion for the fiscal fourth quarter that ends in September 30. A company's market cap is calculated by multiplying the number of shares outstanding by its stock's share price.

Bob Evans Suspends Partnership Deal With Ohio State Coach Urban Meyer
On Thursday night, Ohio State announced it formed an independent board "related to the investigation involving Urban Meyer ". The extension also increased Meyer's salary to $7.6m for 2018, an $800,000 raise over what he was scheduled to earn.

John Kelly expected to stay through 2020
Kelly has often joked publicly about how working for Trump is the hardest job he's ever had, including those on the battlefield. If Kelly survives until 2020, he would be among the longest-serving White House chiefs of staff in American history.

Kochs won't help top GOP Senate candidates in key state
Americans For Prosperity , a branch in the Koch network , announced Monday that the group would not financially back Rep. Trump's policies also have not always been in line with the Kochs' political group-Americans for Prosperity.

Donald Trump: Paul Manafort Being Treated Worse Than Al Capone
A star government witness will be Richard Gates, a former deputy Trump campaign chairman and former Manafort business associate. Attorney Uzo Asonye told Ellis in court Wednesday that Gates may not testify. "That's not the American way", the judge said.

Tesla cuts losses on Model 3 sales, Musk promises profits next quarter
Tesla said its capital expenses would be slightly below $2.5 billion in 2018, less than last year's $3.4 billion. On Twitter, Elon Musk asked for developers to consider joining Tesla to make games optimized for its vehicles.

Mars closest to earth in 15 years today
This is an artist's model of an early Mars - billions of years ago - which may have had oceans and a thicker atmosphere. Since the orbits of the two planets are of different lengths, they come close to each other once every two years.

Donald Trump says he’s open to meeting Iranian president with ‘no preconditions’
Mr Trump said he had "no preconditions" for a meeting with the Iranians, adding: "If they want to meet, I'll meet". US Secretary of State Michael R Pompeo is also scheduled to visit Singapore and Jakarta.

Photos show NK building new ICBM near Pyongyang
Government officials believe North Korea is continuing to manufacture missiles in a facility near its capital of Pyongyang. The factory is known to have produced the Hwasong-15, the first North Korean ICBM capable of reaching the US.