Iran sanctions: Trump warns trading partners

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"Preserving the nuclear deal with Iran is a matter of respecting global agreements and a matter of worldwide security".

President Donald Trump has been a frequent critic of that deal and withdrew the United States from the agreement three months ago, setting in motion the reimposition of the sanctions effective at midnight Monday.

The two other signatories to the 2015 pact - Russian Federation and China - also continue to support it.

"Our policy is based on a clear-eyed assessment of the Iranian dictatorship, its sponsorship of terrorism, and its continuing aggression in the Middle East and all around the world", President Trump said in a statement.

His tweet early on Tuesday was a warning to business partners, after the European Union announced it would try to shield companies continuing to trade with Iran.

In a statement on Monday just hours before the sanctions went back into force, Trump said: "The Iranian regime faces a choice".

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"The E.U.is morally bankrupt, and we need to remember that next time they try to lecture us", Mr. Erdan told Israel Radio.

So-called snapback sanctions, due to come into force early on Tuesday, target Iranian purchases of USA dollars, metals trading, coal, industrial software and its auto sector.

The US has re-imposed tough, unilateral sanctions against Iran, bringing back into effect harsh penalties that had been lifted under a historic, multi-party nuclear agreement that US President Donald Trump abandoned in May.

"The world has distanced itself from their hostile policies", Zarif said, adding that they "have become the symbol of mistrust in the world".

The last time Iran was sanctioned, it lost half of its exports, which have now returned to 2.4 million barrels per day.

He also reiterated that on November 5, the United States would also resume sanctions against Iran's energy-related transactions, as well as business conducted by foreign financial institutions with the Central Bank of Iran.

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The commission says this is created to protect European Union firms in Iran by allowing them to recover any U.S. damages, including legal costs.

"Anyone doing business with Iran will NOT be doing business with the United States", the president tweeted.

He said: "If you stab someone with a knife and then you say you want talks, then the first thing you have to do is remove the knife". Iran says it will continue to abide by the deal for now, if other countries can help protect it from the economic impact of Washington's decision to pull out.

Trump described it as the "worst deal ever" and has since announced Washington would reimpose sanctions on any companies that operate in Iran. The country's rial currency has tanked, and the downturn has sparked protests across the nation.

"Most of the companies have already made up their mind, whether it's the German Siemens, the French carmaker PSA, the Danish Maersk - all these companies that have said they don't want to risk losing access to the United States market, they don't want to risk losing access to the financing in dollars by USA banks, and also they don't want to lose their U.S. shareholders".

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