Iranians suffered a great deal under the sanctions that were lifted by the nuclear deal in July 2015; they are not ready for a new round of sanctions that Trump has promised will be tougher and more painful than before.
Sputnik adds: Tehran welcomes the U.S. decision to allow eight countries to continue buying Iranian oil after Washington reimposes its sanctions on Iran on November 5, Ali Kardor, managing director of the National Iranian Oil Company and Iranian deputy oil minister, said in an interview for the local ISNA news agency. "I want to escape from Iran", said Essam, an accountant, who is disgusted with both the US and Iranian governments.
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.
"In the next weeks all eyes will be on Iranian exports, whether there will be some cheating around U.S. sanctions, and on how quickly production will fall", said Riccardo Fabiani, an analyst for Energy Aspects.
Later, a senior State Department official told reporters that that the US was ready for talks with Iran. Mr Trump argues that the terms of the deal are unacceptable and it has not stopped Iran developing a ballistic missile programme and intervening in neighbouring countries, including Syria and Yemen.
Mnuchin warned that SWIFT will be subject to USA sanctions if it provides financial messaging services to designated Iranian financial institutions. "America has been defeated by the Islamic Republic over the past 40 years", the ayatollah said.
All are among Iran's biggest oil customers, and they have argued that stopping their purchases immediately would cause oil prices to spike worldwide. Moreover, the United States needs India's help to deal with Afghanistan problem and with sanctions in place the entire efforts would be derailed. Prices have since eased, aided by the United States decision to allow waivers for India, Japan, South Korea and others.
Mnuchin said today that SWIFT "would be subject to USA sanctions if it provides financial messaging services to certain designated Iranian financial institutions" and that the U.S.
Taiwan was waiting to see whether it was one of the "eight jurisdictions" expected to receive waivers to continue buy oil from Iran despite sanctions from the United States.
Pompeo said that the countries receiving waivers had agreed that payments for the oil will be sent to special bank accounts that Iran will only be able to access if it is using the funds for "humanitarian trade, or bilateral trade in non-sanctioned goods and services".
The regime in Tehran has been doing its best in the past few months to find a way to avoid these sanctions, mainly by working with the European Union, but it is still struggling to persuade its citizens that any such mechanism will work.