Trump tweets himself as star of own Iran sanctions movie

This image taken from the Twitter account of President Donald J. Trump @realDonaldTrump shows what looks like a movie-style poster that takes creative inspiration from the TV series 'Game of Thrones' to announce the re-imposition of sanctions

This image taken from the Twitter account of President Donald J. Trump @realDonaldTrump shows what looks like a movie-style poster that takes creative inspiration from the TV series 'Game of Thrones' to announce the re-imposition of sanctions

In May, Russian oil major, Lukoil said it had decided not to go ahead with plans to develop projects in Iran at the moment due to the threat of US sanctions.

The waivers are only temporary, and the USA will expect countries to keep cutting Iranian imports in the months ahead, it added.

With buyers at the centre of oil majors' future growth plans, India, which meets 83% of its crude oil requirement through imports, has been pushing for a change in the global energy architecture.

A Chinese official told Reuters that discussions with the USA government were ongoing and that a result was expected over the next couple of days.

The countries won't be named until Monday, but Bloomberg reports Japan, India, South Korea, and China are expected to be among recipients.

Another country that has been seeking a sanctions waiver is Turkey, which takes significant volumes via pipeline from neighboring Iran.

The United States is able to pressure other nations to stop buying Iranian oil under a 2012 law that allows the president to cut off foreign banks, including central banks, from the USA financial system unless they significantly reduce purchases.

Japan has been among the nations seeking waivers on the USA -led ban on oil imports from Iran. China, the leading importer of Iranian oil, is still in discussions with the US on terms, the report said.

The US aims to cripple the Iranian economy to pressure Tehran to halt its nuclear activities and what the US says is broad support for "terrorism" in the region, Pompeo said.

China says Xi-Trump phone call 'extremely positive'
A key point of contention for the U.S. has been its allegations that China has engaged in widespread intellectual property theft . Ten percent tariffs on US$200 billion in imports that took effect in September are due to increase to 25% on Jan 1.

Vice President Mike Pence, for his part, said, "Iran will be under the most punitive sanctions they have ever faced".

Smashing another remnant of Barack Obama's reign and throwing some red meat at red states at the same time, the administration was quick to get out the word that "President Donald J. Trump is reimposing the toughest sanctions ever on Iran, targeting numerous corrupt regime's critical sectors".

Countries with close security and trade ties with the United States were quick to cut their purchases - South Korea went nearly straight to zero, with Japan and much of Europe close behind.

Pompeo defended the oil waivers and noted that since May, when the USA began to press countries to stop buying Iranian oil, Iran's exports had dropped by more than 1 million barrels per day.

"The sanctions are indeed coming", Netanyahu stated ahead of the renewed, far-reaching sanctions that Washington is slated to slap on Tehran next week.

Even if Iran can continue to sneak oil out of its ports, it will find it hard to get the cash into its accounts.

According to Trump's tweet, the White House will reportedly address reimposing Iran sanctions, which were previously lifted by President Obama as part of the Iran nuclear agreement in 2015, on Monday. "The nitty-gritty of this will come gradually", 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.

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