Iran warn of ‘CONSEQUENCES’ as United States announces ban on oil exports

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"It's good for the country, good for them, good for us and good for the world".

Tuesday evening on his nationally syndicated radio show, LevinTV host Mark Levin interviewed national security adviser John Bolton about the Trump administration's decision to impose further sanctions on the terrorist regime that rules Iran.

Zarif said the U.S. president has taken a hostile approach towards the Iranian nation as he first re-imposed those sanctions that targeted activities such as plane purchases.

The renewed USA sanctions go into effect as protests escalate against Iran's hardline ruling party over its vast military spending, which has crippled an already weak Iranian economy.

Tuesday's sanctions target Iran's purchases of USA dollars, metals trading, coal, industrial software and the auto sector. "They are imposing sanctions on Iranian children, patients and the nation", Iran's chief executive added.

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European countries have also vowed to protect the nuclear deal by continuing to trade with Iran.

Among large European companies that have suspended plans to invest in Iran are France's oil major Total and its big carmakers, PSA and Renault.

Iranian Foreign Minister Mohammad Javad Zarif said Wednesday it was hard to imagine new talks with the United States after it lost the trust of the world with its erratic decision-making.

Zarif said in his Wednesday remarks that the world was taking Iran's side in the face of USA acts. "The main reason behind this is that Trump does not care about either the Iranian people or global obligations", he told reporters.

"If the Americans want to keep this simplistic and impossible idea in their minds they should also know its consequences", Zarif told the Iran newspaper.

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Rouhani hinted last month that Iran could block the Strait of Hormuz, a major oil shipping route, if the US attempted to stop the Islamic Republic's oil exports.

In a speech hours before the sanctions were due to take effect on Tuesday, Rouhani rejected negotiations as long as Washington was no longer complying with the deal.

Trump responded by noting that Iran could face serious consequences if it threatened the United States.

Just one day after the USA issued their first set of sanctions were issued, Ms Mogherini said: "We are doing our best to keep Iran in the deal, to keep Iran benefiting from the economic benefits that the agreement brings to the people of Iran, because we believe this is in the security interests of not only our region but also of the world".

Already facing broad economic fallout as their currency implodes, Iranians are wondering how the next phase of the crisis in USA relations will play out - and what, exactly, America's long-term strategy is toward their country.

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"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", Rouhani said in a speech broadcast live on state television. He added that the sanctions are just one component of the Trump administration's strategy to combat the Iranian regime.