Turkey exempt from U.S. sanctions on Iranian oil

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

'Game of Thrones' stars Sophie Turner and Maisie Williams took to Twitter on November 2 to go against Donald Trump for using a meme of their show to promote sanctions for Iran.

Washington says it wants a new deal with Tehran, curtailing its regional interventions and missile programme - demands which have been flatly rejected by Iran.

This time, 1.1 million barrels a day have already been cut from Iran's shipments - a combination of crude and a light oil called condensate that was spared from curbs in 2012 - according to data compiled by Bloomberg.

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 United States in Iran.

A new Congressional Research Service report found the original sanctions "had a substantial effect on Iran's economy and on some major strategic decisions".

On the other side of the coin, Seener said that the collapse of European Union real opposition to United States sanctions is closer to complete than it was months ago.

The United States has vowed to end all sales of Iranian oil, the country's crucial export, as well as worldwide banking transactions, snapping back sanctions lifted by Trump's predecessor as USA president, Barack Obama.

"Iran's oil exports are falling rapidly, and perhaps more and more in the weeks to come", Fatih Birol, executive director at the International Energy Agency, said in a Bloomberg television interview.

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Later, a senior State Department official told reporters that that the USA was ready for talks with Iran.

Money from sales to the exempted countries would be kept in accounts outside Iran, and could only be spent on humanitarian supplies or approved goods.

What remained in effect at that time was a general ban on USA trade with Iran and sanctions on Iran's support for regional governments and armed factions.

"With God's help and the resistance and perseverance of the pious and revolutionary people of Islamic Iran, this last weapon of the enemy - the economic war - which is accompanied by America's widespread media operation against the nation of Iran, will be defeated", Jafari said. The waivers are only temporary, and the US will expect countries to keep cutting Iranian imports in the months ahead, it added.

Although the European Union has vowed to create a "special objective vehicle" (SPV) to protect companies buying oil, analysts see little chance that firms will risk U.S. penalties by using it.

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.

Saudi Arabia, the world´s largest exporter, has claimed that it can respond to the Iranian shortfall, but some market players are wondering whether the kingdom is exhausting its capacities.

"The reimposition of USA sanctions has begun to harm Iran's economy as major companies exit the Iranian economy rather than risk being penalized by the United States", the report said.

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