Iranians rally to mark anniversary of U.S. Embassy takeover

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Three Iraqi officials said on Friday that the USA has informed Baghdad it will be allowed to keep importing crucial gas, energy supplies and food items from Iran after Washington reimposes sanctions on Tehran's oil sector, according to Reuters.

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

Pradhan also expressed hope that India and other leading oil buyers will benefit from the waiver the United States has granted them from Iran sanctions.

Iran's economy isn't directly reliant on the U.S. financial system, says Richard Nephew, a sanctions expert and senior researcher at Columbia University.

Trump announced in May he was withdrawing from the 2015 nuclear deal and reimposing sanctions, sparking outrage among world powers who say Iran has been complying with commitments to restrict its atomic programme.

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The Trump administration created a list of demands Iran would need to meet for sanctions to be lifted, including completely halting its nuclear and ballistic missile program and ending military engagement in Syria and Yemen.

Anger and distrust over the United States is surging again following Mr Trump's decision to withdraw from landmark nuclear deal with world powers despite Tehran's compliance with the agreement, which was negotiated under the Obama administration.

Iran's First Vice President Es'haq Jahangiri was quoted by media as saying that the government of President Hassan Rouhani had already devised mechanisms to counter the impacts of returning USA sanctions against the country's oil exports.

With limited exceptions, the re-imposed US sanctions will hit Iran as well as countries that do not stop importing Iranian oil and foreign firms that do business with blacklisted Iranian entities, including its central bank, a number of private financial institutions, and state-run port and shipping firms, as well as hundreds of individual Iranian officials. "The other six will import at greatly reduced levels", Pompeo said.

Treasury Secretary Steve Mnuchin defended the decision to allow some Iranian banks to remain connected to SWIFT, saying that the Belgium-based firm had been warned that it will face penalties if sanctioned institutions are permitted to use it. Pompeo said the European Union, which has drafted its own plans to circumvent United States sanctions, will not be.

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"We would lose foreign currency revenue had we'd been hit by the sanctions".

The White House on Friday announced that "all the sanctions" relieved under the 2015 Iran deal would be reimposed, though at least eight countries - including major Iranian oil consumers India, South Korea and Japan - would get cutouts allowing them to continue purchasing Iranian oil.

Secretary of State Mike Pompeo said he will name the "jurisdictions" on Monday.

Turkey imports nearly almost half of its oil from neighbouring Iran.

Oil prices fell on Friday for a weekly loss of over 6 percent, as investors anxious about crude oversupply after the USA waivers.

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These economic sanctions are just a part of the U.S. government's total effort to change the behaviour of the Iranian regime, he said.

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