Trump Says "Sanctions Are Coming" for Iran

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"We have the knowledge and the capability to manage the country's economic affairs", Iran's Foreign Ministry spokesman, Bahram Qasemi, told state television.

The Trump administration on Friday restored USA sanctions on Iran that had been lifted under the 2015 nuclear deal, but carved out exemptions for eight countries that can still import oil from the Islamic Republic without penalty.

Despite threats from the US, India continued oil imports from Iran with now the US agreeing on waivers for eight countries regarding sanctions set to kick in on November 5, 2018.

Unusually, Pompeo did not name the eight, other than to say the European Union is not among them. "The other six will import at greatly reduced levels", Pompeo said.

Supreme Leader Ayatollah Ali Khamenei also said Iran's arch-adversary the United States had failed to reassert its domination over Iran since the country's 1979 Islamic Revolution that toppled the USA -backed Shah.

Treasury Secretary Steve Mnuchin defended the decision not to demand an entire cut-off of Iran from the Brussels-based SWIFT global financial network from criticism by anti-Iran deal activists.

The White House said it was "the toughest sanctions regime ever imposed on Iran" and targeted Iran's energy, shipping and banking sectors, BBC reported on Friday.

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This is the second round of sanctions the administration has enacted since exiting the agreement, this time targeting energy and financial operations in the country.

Iran's clerically-led government celebrates the embassy takeover every year as a decisive blow against the United States, which had supported the autocratic rule of Shah Mohammad Reza Pahlavi. "It is our aim to protect European economic operators engaged in legitimate business with Iran, in accordance with EU law".

"As parties to the JCPOA, we have committed to work on ... the preservation and maintenance of effective financial channels with Iran, and the continuation of Iran's export of oil and gas".

After the US' withdrawal from the deal, Trump signed fresh sanctions against Iran and warned countries against any cooperation with Tehran over its controversial nuclear weapons programme. "They are necessary to spur changes we seek on the part of the regime", he said.

Foreign Minister Mohammad Javad Zarif spoke by telephone with the European Union's foreign policy chief, Federica Mogherini, and his counterparts from Germany, Sweden and Denmark about European measures to counter the U.S. sanctions, the Iranian state news agency IRNA reported.

The late founder of the Islamic Republic, Imam Khomeini, hailed the takeover as a "second revolution" after the 1979 Islamic Revolution toppled the Shah of Iran, who was a close ally of the USA in Iran.

Barack Obama, the United States president at the time, had argued the deal would prevent Iran from developing nuclear arms. Moreover, the United States needs India's help to deal with Afghanistan problem and with sanctions in place the entire efforts would be derailed. "Some may not be so religious but they are sensitive towards domination by foreigners". "There is no exit for us".

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