President Hassan Rouhani said Iran "never seeks war" with the US, state media reported Wednesday amid a <a href="https://www.wionews.com/world/us-would-not-dare-violate-iranian-soil-revolutionary-guards-commander-230496">spike in tensions between the two countries</a>.

"Iran has no interest to increase tension in the region and it never seeks war with any country, including (the) US," the president said, quoted by state news agency IRNA.

Rouhani was speaking by phone to his French counterpart Emmanuel Macron, as Tehran and Washington engaged in an escalating war of words following Iran shooting down a US drone last week.

"We have always been committed to regional peace and stability and will make efforts in this respect," the Iranian president told Macron.

US President Donald Trump said he pulled back from retaliatory strikes on Iran at the last minute, rejecting Tehran's claim that the aircraft was in its airspace.

But pressure mounted this week with Trump announcing sanctions on Iran's supreme leader and top officials.

The new measures are the latest against Tehran since Trump pulled out of a landmark nuclear accord between Iran and world powers.

Rouhani blamed the United States for regional tensions Wednesday and said if Washington had stuck to the deal "we would have witnessed positive developments in the region".

Iran announced in May it would suspend two of its pledges under the 2015 deal, giving the agreement's remaining supporters two months to help it circumvent US sanctions.

On Tuesday Tehran's top security official said Iran would "forcefully" reduce further commitments from July 7.

President Hassan Rouhani said Iran "never seeks war" with the US, state media reported Wednesday amid a spike in tensions between the two countries. "Iran has no interest to increase tension in the region and it never seeks war with any country, including (the) US," the president said, quoted by state news agency IRNA.

President Hassan Rouhani said Iran "never seeks war" with the US, state media reported Wednesday amid a spike in tensions between the two countries. "Iran has no interest to increase tension in the region and it never seeks war with any country, including (the) US," the president said, quoted by state news agency IRNA. Rouhani was speaking by phone to his French counterpart Emmanuel Macron, as Tehran and Washington engaged in an escalating war of words following Iran shooting down a US drone last week. "We have always been committed to regional peace and stability and will make efforts in this respect," the Iranian president told Macron. US President Donald Trump said he pulled back from retaliatory strikes on Iran at the last minute, rejecting Tehran's claim that the aircraft was in its airspace. But pressure mounted this week with Trump announcing sanctions on Iran's supreme leader and top officials. The new measures are the latest against Tehran since Trump pulled out of a landmark nuclear accord between Iran and world powers. Rouhani blamed the United States for regional tensions Wednesday and said if Washington had stuck to the deal "we would have witnessed positive developments in the region". Iran announced in May it would suspend two of its pledges under the 2015 deal, giving the agreement's remaining supporters two months to help it circumvent US sanctions. On Tuesday Tehran's top security official said Iran would "forcefully" reduce further commitments from July 7.

Iran 'never seeks war' with US, says Hassan Rouhani

The United States would not dare violate Iranian soil, the head of the Revolutionary Guards' aerospace division said on Wednesday, according to the semi-official Mehr news agency.

Tensions have spiked between Iran and the United States after the Islamic Republic shot down a US drone they claim was flying over their territorial waters last Thursday. Washington says the drone was in international airspace.

US President Donald Trump threatened on Tuesday to obliterate parts of Iran if it attacked "anything American", but later left the door open for talks.

"Neither America nor any other country would dare violate Iranian soil," Brigadier General Amirali Hajizadeh was quoted as saying by the Mehr news agency.

The downing of the US drone sent a message to other countries in the region to rely on their own abilities, a senior Iranian parliamentarian said on Wednesday, according to Mehr.

"Destroying the American drone was a very good message for other countries in the region for them to know to find native power by relying on their own national abilities," said Alaeddin Boroujerdi, a member of the National Security and Foreign Policy Commission in Iran's parliament.

Iranian military commanders have said the drone was shot down by a missile developed within the Islamic Republic.

The United States would not dare violate Iranian soil, the head of the Revolutionary Guards' aerospace division said on Wednesday, according to the semi-official Mehr news agency.

The United States would not dare violate Iranian soil, the head of the Revolutionary Guards' aerospace division said on Wednesday, according to the semi-official Mehr news agency. Tensions have spiked between Iran and the United States after the Islamic Republic shot down a US drone they claim was flying over their territorial waters last Thursday. Washington says the drone was in international airspace. US President Donald Trump threatened on Tuesday to obliterate parts of Iran if it attacked "anything American", but later left the door open for talks. "Neither America nor any other country would dare violate Iranian soil," Brigadier General Amirali Hajizadeh was quoted as saying by the Mehr news agency. The downing of the US drone sent a message to other countries in the region to rely on their own abilities, a senior Iranian parliamentarian said on Wednesday, according to Mehr. "Destroying the American drone was a very good message for other countries in the region for them to know to find native power by relying on their own national abilities," said Alaeddin Boroujerdi, a member of the National Security and Foreign Policy Commission in Iran's parliament. Iranian military commanders have said the drone was shot down by a missile developed within the Islamic Republic.

US would not dare violate Iranian soil: Revolutionary Guards commander

A Pointed Analysis Of U.S.' Foreign Policy Under Trump First it was North Korea in 2017, then it is Iran; extreme views followed by drastic U-turns and self-declared ability to make deals, has the U.S. President Donald Trump failed to achieve anything with his 'fire & fury' foreign policy? Palki with an analysis

Gravitas: Has Trump's 'Fire & Fury' foreign policy been a failure?

Iranian President Hassan Rouhani said Tehran "never seeks war" with the US amid a spike in tensions between the two countries.

Rouhani to Macron: Iran 'Never Seeks War' with US

Iranian President Hassan Rouhani dismissed new <a href="https://www.wionews.com/world/us-sanctions-mean-permanent-closure-of-path-to-diplomacy-iran-230174">US sanctions on Iran's Supreme Leader Ayatollah Ali Khamenei</a> and described the White House as "mentally retarded", an insult Iran has used in the past about President Donald Trump.

In a speech broadcast live on state television, Rouhani said sanctions against Khamenei would fail because he had no assets abroad. Rouhani described the latest round of sanctions as a sign of US desperation.

"The White House actions mean it is mentally retarded," he said, "Tehran's strategic patience does not mean we have fear."

Rouhani also said, latest sanctions showed Washington is "lying" about offering to negotiate.

&nbsp;"At the same time as you call for negotiations, you seek to sanction the foreign minister? It's obvious that you're lying."

His comments came after US National Security Advisor John Bolton said Washington had "held the door open to real negotiations" but that "in response, Iran's silence has been deafening."

The United States imposed sanctions Monday on Iran's supreme leader Ayatollah Ali Khamenei and others, which the Iranian foreign ministry said meant a "permanent closure of the path to diplomacy" with the US administration.

Tensions are running high after Iran shot down a US spy drone last week and Trump considered, then cancelled a retaliatory strike.

Bolton said Tuesday the US remains open to negotiations, more than a year after Washington pulled out of a landmark nuclear deal between Tehran and world powers.

"All that Iran needs to do is to walk through that open door," he said.

Tensions have soared after Iran last week shot down a US surveillance drone that Tehran insists had ventured into its airspace -- a claim rejected by Washington. 
&nbsp;

Iranian President Hassan Rouhani dismissed new US sanctions on Iran's Supreme Leader Ayatollah Ali Khamenei and described the White House as "mentally retarded", an insult Iran has used in the past about President Donald Trump.

Iranian President Hassan Rouhani dismissed new US sanctions on Iran's Supreme Leader Ayatollah Ali Khamenei and described the White House as "mentally retarded", an insult Iran has used in the past about President Donald Trump. In a speech broadcast live on state television, Rouhani said sanctions against Khamenei would fail because he had no assets abroad. Rouhani described the latest round of sanctions as a sign of US desperation. "The White House actions mean it is mentally retarded," he said, "Tehran's strategic patience does not mean we have fear." Rouhani also said, latest sanctions showed Washington is "lying" about offering to negotiate. "At the same time as you call for negotiations, you seek to sanction the foreign minister? It's obvious that you're lying." His comments came after US National Security Advisor John Bolton said Washington had "held the door open to real negotiations" but that "in response, Iran's silence has been deafening." The United States imposed sanctions Monday on Iran's supreme leader Ayatollah Ali Khamenei and others, which the Iranian foreign ministry said meant a "permanent closure of the path to diplomacy" with the US administration. Tensions are running high after Iran shot down a US spy drone last week and Trump considered, then cancelled a retaliatory strike. Bolton said Tuesday the US remains open to negotiations, more than a year after Washington pulled out of a landmark nuclear deal between Tehran and world powers. "All that Iran needs to do is to walk through that open door," he said. Tensions have soared after Iran last week shot down a US surveillance drone that Tehran insists had ventured into its airspace -- a claim rejected by Washington.

Iran dismisses new US sanctions, calls White House 'retarded'

Iran will speed up enrichment of uranium after a deadline given to European countries to prevent this ends on Thursday, the spokesman for Iran's Atomic Energy Organisation said on Wednesday, according to the IRIB news agency.

"The deadline of the Atomic Energy Organisation for passing the production of enriched uranium from the 300 kilogram border will end tomorrow," the organisation's spokesman Behrouz Kamalvandi said.&nbsp;

"With the end of this deadline, the speed of enrichment will speed up."

The Secretary of Iran's Supreme National Security Council said on Tuesday that the <a href="https://www.wionews.com/world/iran-must-stick-to-nuclear-commitments-warn-germany-uk-over-enriched-uranium-row-228119">Islamic Republic will take new steps to reduce its commitments under its nuclear dea</a>l with world powers on July 7.

Tensions between Iran and the United States have escalated ever since, with Washington bolstering its military presence in the region and blacklisting Iran's Revolutionary Guards as a terrorist organisation.

The US has also blamed Iran for last week's attacks on two tankers in the Gulf of Oman, a charge Tehran has denied as "baseless".

Iran has threatened to go even further in scaling down nuclear commitments by July 8 unless remaining partners to the deal -- Britain, China, France, Germany and Russia -- help it circumvent US sanctions and especially enable it to sell its oil.

Watch: Iran hits back after fresh US sanctions, calls it 'permanent closure' of diplomacy

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/iran-hits-back-after-fresh-us-sanctions-calls-it-permanent-closure-of-diplomacy-230461/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

Under the agreement, Iran pledged to reduce its nuclear capacities for several years and allow international inspectors inside the country to monitor its activities in return for relief from international sanctions.

The deal set a limit on the number of uranium-enriching centrifuges, and restricted its right to enrich uranium to no higher than 3.67 per cent, well below weapons-grade levels of around 90 per cent.

It also called on Iran to export enriched uranium and heavy water to ensure that the country's reserves would stay within the production ceiling set by the agreement, yet recent US restrictions have made such exports virtually impossible.

Iran will speed up enrichment of uranium after a deadline given to European countries to prevent this ends on Thursday, the spokesman for Iran's Atomic Energy Organisation said on Wednesday, according to the IRIB news agency.

Iran will speed up enrichment of uranium after a deadline given to European countries to prevent this ends on Thursday, the spokesman for Iran's Atomic Energy Organisation said on Wednesday, according to the IRIB news agency. "The deadline of the Atomic Energy Organisation for passing the production of enriched uranium from the 300 kilogram border will end tomorrow," the organisation's spokesman Behrouz Kamalvandi said. "With the end of this deadline, the speed of enrichment will speed up." The Secretary of Iran's Supreme National Security Council said on Tuesday that the Islamic Republic will take new steps to reduce its commitments under its nuclear deal with world powers on July 7. Tensions between Iran and the United States have escalated ever since, with Washington bolstering its military presence in the region and blacklisting Iran's Revolutionary Guards as a terrorist organisation. The US has also blamed Iran for last week's attacks on two tankers in the Gulf of Oman, a charge Tehran has denied as "baseless". Iran has threatened to go even further in scaling down nuclear commitments by July 8 unless remaining partners to the deal -- Britain, China, France, Germany and Russia -- help it circumvent US sanctions and especially enable it to sell its oil. Watch: Iran hits back after fresh US sanctions, calls it 'permanent closure' of diplomacy × Under the agreement, Iran pledged to reduce its nuclear capacities for several years and allow international inspectors inside the country to monitor its activities in return for relief from international sanctions. The deal set a limit on the number of uranium-enriching centrifuges, and restricted its right to enrich uranium to no higher than 3.67 per cent, well below weapons-grade levels of around 90 per cent. It also called on Iran to export enriched uranium and heavy water to ensure that the country's reserves would stay within the production ceiling set by the agreement, yet recent US restrictions have made such exports virtually impossible.

Iran will speed up enriching of uranium after deadline to Europe ends on Thursday: Report

By David Cortright

Many are worried about the risk of war between the US&nbsp;and Iran. But the truth is, the US&nbsp;has been fighting with Iran for decades in an economic war waged via sanctions – which is about to get a lot worse.

Concerns about a war of guns, warplanes and missiles grew after Iran shot down a US&nbsp;spy drone amid already worsening tensions. President Donald Trump says he ordered a retaliatory strike in response – only to reverse course at the last minute.

Whether or not a shooting war does break out, the United States’ economic war has already been intensifying over the past year. Trump promised “major” new sanctions in response to the attack on the drone.

Existing sanctions have already devastated innocent Iranians. Not only that, they’ve undermining long-accepted principles of international cooperation and diplomacy, a topic I’ve been researching for the past 25 years.

Carrots and sticks

Many nations have recognised that sanctions work best as tools of persuasion rather than punishment.

Sanctions by themselves rarely succeed in changing the behaviour of a targeted state. They are often combined with diplomacy in a carrots-and-sticks bargaining framework designed to achieve negotiated solutions.

Indeed, the offer to lift sanctions can be a persuasive inducement in convincing a targeted regime to alter its policies, as was the case when successful negotiations involving the US&nbsp;and Europe led to the Iran nuclear deal in 2015. That deal ended sanctions in exchange for Tehran shutting down much of its nuclear production capacity.

A year ago Trump withdrew the US&nbsp;from that accord and not only reimposed previous sanctions but added further restrictions, including so-called secondary sanctions that penalize other countries for continuing to trade with Iran.

Multilateral vs unilateral sanctions 
 
In an increasingly globalised world, unilateral sanctions like these – in which one country goes it alone – are rarely effective at achieving their end result, which in this case is regime change.

Multilateral sanctions involving several or many countries have greater impact and make it more difficult for targeted individuals or regimes to find alternative sources of oil or other goods. And getting authorization through the United Nations or regional organizations provides legal and political cover.

When the UN&nbsp;Security Council imposed targeted sanctions on Iran in 2006 over its illicit nuclear activities, for example, members of the European Union were able to join the US&nbsp;and other countries in applying pressures that brought Iran to the bargaining table. That’s what led to the negotiated nuclear deal nine years later.

The US&nbsp;circumvented this voluntary multilateral process when it withdrew from the accord and unilaterally imposed “extraterritorial secondary sanction.” These barred nations or companies that buy Iranian oil or other sanctioned products from doing business in the US

Although most countries disagree with the US&nbsp;withdrawal from the Iran deal and some reject such sanctions as an infringement on their own sovereignty, they are powerless. They cannot afford to lose access to dollar financing and the US economy and thus are forced against their will to do Washington’s bidding.

Iranians pay the price 
 
And the Iranian people are paying the price.

Oil exports and national income are dropping, inflation is rising and economic hardships are mounting. The Iranian rial lost more than 60 per cent of its value in the last year, eroding the savings of ordinary Iranians.

Life is becoming increasingly difficult for working families struggling to make ends meet. There are indications that the new sanctions are inhibiting the flow of humanitarian goods and contributing to shortages in specialised medicines to treat ailments such as multiple sclerosis and cancer.

Cargill and other global food giants have halted shipments to Iran because of the lack of available financing.

Punishment of the Iranian people seems to be a deliberate policy. When asked recently how the administration expects sanctions to change the behaviour of the Iranian government, Secretary of State Mike Pompeo acknowledged they won’t be able to do that and instead suggested it’s up to the people to “change the government.”

In other words, the pain of sanctions will force people to rise up and overthrow their leaders. This is as naïve as it is cynical. It reflects the long-discredited theory that sanctioned populations will direct their frustrations and anger at national leaders and demand a change in policy or the regime. Sanctions have never worked for this purpose.

The more likely result is the classic “rally around the flag” effect. Iranians are critical of their government’s economic policies, but they also blame Trump for the hardships resulting from sanctions. Governments subjected to sanctions are adept at blaming economic hardships on their external adversaries, as Iran’s religious and elected leaders are doing now against the United States.

Tehran is likely to respond to tightening sanctions by giving greater authority to companies associated with the Iranian Revolutionary Guard Corps, a major branch of the Iranian military, further empowering the very hard-line forces Washington claims to oppose.

The White House is ignoring these realities and adding even more draconian sanctions, while threatening and making preparations for military strikes, hoping that economic pain and military pressure will make Iran’s leaders cry uncle. There is no sign of surrender yet from Tehran, nor is there likely to be, until the two sides pull back from the brink and agree to negotiate a diplomatic settlement.

(David Cortright is Director of Policy Studies, Kroc Institute for International Peace Studies, University of Notre Dame)

(This article was originally published on The Conversation. Read the <a href="https://theconversation.com/risk-of-shooting-war-with-iran-grows-after-decades-of-economic-warfare-by-the-us-119272">original article)</a>

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL.)&nbsp;

By David Cortright Many are worried about the risk of war between the US and Iran. But the truth is, the US has been fighting with Iran for decades in an economic war waged via sanctions – which is about to get a lot worse.

By David Cortright Many are worried about the risk of war between the US and Iran. But the truth is, the US has been fighting with Iran for decades in an economic war waged via sanctions – which is about to get a lot worse. Concerns about a war of guns, warplanes and missiles grew after Iran shot down a US spy drone amid already worsening tensions. President Donald Trump says he ordered a retaliatory strike in response – only to reverse course at the last minute. Whether or not a shooting war does break out, the United States’ economic war has already been intensifying over the past year. Trump promised “major” new sanctions in response to the attack on the drone. Existing sanctions have already devastated innocent Iranians. Not only that, they’ve undermining long-accepted principles of international cooperation and diplomacy, a topic I’ve been researching for the past 25 years. Carrots and sticks Many nations have recognised that sanctions work best as tools of persuasion rather than punishment. Sanctions by themselves rarely succeed in changing the behaviour of a targeted state. They are often combined with diplomacy in a carrots-and-sticks bargaining framework designed to achieve negotiated solutions. Indeed, the offer to lift sanctions can be a persuasive inducement in convincing a targeted regime to alter its policies, as was the case when successful negotiations involving the US and Europe led to the Iran nuclear deal in 2015. That deal ended sanctions in exchange for Tehran shutting down much of its nuclear production capacity. A year ago Trump withdrew the US from that accord and not only reimposed previous sanctions but added further restrictions, including so-called secondary sanctions that penalize other countries for continuing to trade with Iran. Multilateral vs unilateral sanctions In an increasingly globalised world, unilateral sanctions like these – in which one country goes it alone – are rarely effective at achieving their end result, which in this case is regime change. Multilateral sanctions involving several or many countries have greater impact and make it more difficult for targeted individuals or regimes to find alternative sources of oil or other goods. And getting authorization through the United Nations or regional organizations provides legal and political cover. When the UN Security Council imposed targeted sanctions on Iran in 2006 over its illicit nuclear activities, for example, members of the European Union were able to join the US and other countries in applying pressures that brought Iran to the bargaining table. That’s what led to the negotiated nuclear deal nine years later. The US circumvented this voluntary multilateral process when it withdrew from the accord and unilaterally imposed “extraterritorial secondary sanction.” These barred nations or companies that buy Iranian oil or other sanctioned products from doing business in the US Although most countries disagree with the US withdrawal from the Iran deal and some reject such sanctions as an infringement on their own sovereignty, they are powerless. They cannot afford to lose access to dollar financing and the US economy and thus are forced against their will to do Washington’s bidding. Iranians pay the price And the Iranian people are paying the price. Oil exports and national income are dropping, inflation is rising and economic hardships are mounting. The Iranian rial lost more than 60 per cent of its value in the last year, eroding the savings of ordinary Iranians. Life is becoming increasingly difficult for working families struggling to make ends meet. There are indications that the new sanctions are inhibiting the flow of humanitarian goods and contributing to shortages in specialised medicines to treat ailments such as multiple sclerosis and cancer. Cargill and other global food giants have halted shipments to Iran because of the lack of available financing. Punishment of the Iranian people seems to be a deliberate policy. When asked recently how the administration expects sanctions to change the behaviour of the Iranian government, Secretary of State Mike Pompeo acknowledged they won’t be able to do that and instead suggested it’s up to the people to “change the government.” In other words, the pain of sanctions will force people to rise up and overthrow their leaders. This is as naïve as it is cynical. It reflects the long-discredited theory that sanctioned populations will direct their frustrations and anger at national leaders and demand a change in policy or the regime. Sanctions have never worked for this purpose. The more likely result is the classic “rally around the flag” effect. Iranians are critical of their government’s economic policies, but they also blame Trump for the hardships resulting from sanctions. Governments subjected to sanctions are adept at blaming economic hardships on their external adversaries, as Iran’s religious and elected leaders are doing now against the United States. Tehran is likely to respond to tightening sanctions by giving greater authority to companies associated with the Iranian Revolutionary Guard Corps, a major branch of the Iranian military, further empowering the very hard-line forces Washington claims to oppose. The White House is ignoring these realities and adding even more draconian sanctions, while threatening and making preparations for military strikes, hoping that economic pain and military pressure will make Iran’s leaders cry uncle. There is no sign of surrender yet from Tehran, nor is there likely to be, until the two sides pull back from the brink and agree to negotiate a diplomatic settlement. (David Cortright is Director of Policy Studies, Kroc Institute for International Peace Studies, University of Notre Dame) (This article was originally published on The Conversation. Read the original article) (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL.)

Risk of shooting war with Iran grows after decades of economic warfare by the US

<a href="https://www.wionews.com/world/forget-bitcoin-millionaires-bezos-gates-may-become-trillionaires-29476">Bitcoin</a> surged to a near 16-month high above $11,000 Monday, overshadowing showings across stock, foreign exchange and commodity markets, with investors looking ahead to the week's G20 summit.

Bitcoin reached $11,251.21, surpassing $10,000 for the first time since March last year, as the cryptocurrency sector got a huge boost from Facebook's unveiling of its own digital unit Libra, analysts said.&nbsp;

"The strong resurgence in the bitcoin price is mainly due to the renewed mainstreaming interest in cryptocurrencies and the technology which underlines them," Naeem Aslam, an analyst at trading group ThinkMarkets, said.

"Projects like Facebook's Libra have provided a much-needed tailwind for this space."

The social network plans to launch Libra next year, with the backing by a basket of real-world currencies and a consortium of companies including Visa, MasterCard, PayPal and Uber.

"<a href="https://www.wionews.com/business-economy/bitcoin-trading-volume-hits-two-year-low-in-march-208110">Bitcoin</a> volatility is likely to persist, with $12,000 and $15,000 as the next two critical resistance levels," said OANDA senior market analyst Edward Moya.

Bitcoin has risen about 20 per cent this month alone but is still well off record levels near $20,000 seen at the end of 2017.

Elsewhere Monday, oil prices nudged higher as rising US-Iran tensions continued to fuel supply concerns.

Stock markets were largely steady ahead of a crunch meeting between US President Donald Trump and Chinese counterpart Xi Jinping at the weekend summit of 20 major economies.

Markets are waiting to see if Trump and Xi can break an impasse in their trade war when they meet on the sidelines of the event in Japan.

Global equities last week rallied after Trump hailed positive telephone talks between the pair, fuelling hopes of a possible end to their long-running tariffs battle.

"No one thinks the US and China will do a deal in Osaka, but there is some hope that we will have a positive development that marks a shift in the rhetoric and a re-energising of talks following the breakdown in the recent discussions," said Neil Wilson, chief market analyst at Markets.com.

The dollar meanwhile dropped Monday, continuing to face pressure from expectations that the Federal Reserve could lower US interest rates as soon as July as the economy shows signs of softening amid the trade war with China.

Bitcoin surged to a near 16-month high above $11,000 Monday, overshadowing showings across stock, foreign exchange and commodity markets, with investors looking ahead to the week's G20 summit.

Bitcoin surged to a near 16-month high above $11,000 Monday, overshadowing showings across stock, foreign exchange and commodity markets, with investors looking ahead to the week's G20 summit. Bitcoin reached $11,251.21, surpassing $10,000 for the first time since March last year, as the cryptocurrency sector got a huge boost from Facebook's unveiling of its own digital unit Libra, analysts said. "The strong resurgence in the bitcoin price is mainly due to the renewed mainstreaming interest in cryptocurrencies and the technology which underlines them," Naeem Aslam, an analyst at trading group ThinkMarkets, said. "Projects like Facebook's Libra have provided a much-needed tailwind for this space." The social network plans to launch Libra next year, with the backing by a basket of real-world currencies and a consortium of companies including Visa, MasterCard, PayPal and Uber. "Bitcoin volatility is likely to persist, with $12,000 and $15,000 as the next two critical resistance levels," said OANDA senior market analyst Edward Moya. Bitcoin has risen about 20 per cent this month alone but is still well off record levels near $20,000 seen at the end of 2017. Elsewhere Monday, oil prices nudged higher as rising US-Iran tensions continued to fuel supply concerns. Stock markets were largely steady ahead of a crunch meeting between US President Donald Trump and Chinese counterpart Xi Jinping at the weekend summit of 20 major economies. Markets are waiting to see if Trump and Xi can break an impasse in their trade war when they meet on the sidelines of the event in Japan. Global equities last week rallied after Trump hailed positive telephone talks between the pair, fuelling hopes of a possible end to their long-running tariffs battle. "No one thinks the US and China will do a deal in Osaka, but there is some hope that we will have a positive development that marks a shift in the rhetoric and a re-energising of talks following the breakdown in the recent discussions," said Neil Wilson, chief market analyst at Markets.com. The dollar meanwhile dropped Monday, continuing to face pressure from expectations that the Federal Reserve could lower US interest rates as soon as July as the economy shows signs of softening amid the trade war with China.

After Facebook's cryptocurrency Libra, Bitcoin surges above $11,000

Last week was tense as the US and Iran almost went at loggerheads with each other. The relationship between the two countries has deteriorated since the 1970s when Irani revolutionaries kicked out US-backed shah and took the US embassy hostage.&nbsp;

In 2015, the US signed a deal to stop Iran’s nuclear agenda but President Donald Trump pulled out of the deal completely saying that it wasn’t enough and instead, implemented heavy sanctions that are squeezing Iran’s economy. Tensions have reached a peak as of last week after weeks of threats from Iran against US troops. On Thursday (June 20), Iran gunned down an unmanned military drone that it said was in its airspace. The US denies that it was intruding on Iranian territory. Soon after, it was found that the USA had called for a retaliatory strike against Iran- literally ships and places in place and ready to go. This was called off. But certainly kept the world on a jittery edge. And in particular, India; who should be gravely concerned for two major reasons.&nbsp;

First, this will exponentially increase oil cost for India. With a width of only 35 nautical miles, the Strait of Hormuz is the only passage between the Persian Gulf and the Gulf of Oman. It is through this narrow strip of sea that 20 per cent of the world global crude and 25 per cent of the world LNG (liquefied natural gas) goes through. 
 
Additionally, Iran has been one of India’s top energy suppliers (crude oil) for over a decade. India also purchases natural gas from Iran. 
 
Therefore, India is dependent on the Strait of Hormuz for its energy imports. Continued tensions at this level between the US and Iran could prove difficult for India’s economy; especially at a time when Modi’s NDA is set to increase federal spending on energising India’s economy. In fact, the account of Iran allegedly shooting down the US drone in&nbsp;its airspace earlier this week has already led to increased oil prices; globally, a five per cent spike.&nbsp;

Exactly how does India get affected with higher oil prices? India’s oil and petrol prices have inherently remained in the low range without volatility. This has allowed the central government to spend on other areas like affordable housing, healthcare, electricity and multiple Swachh Bharat initiatives at a time when the GDP requires this diverse spending. With volatile oil prices, consumers will be pinched and a significant chunk of government spending and reserves will be forced to go to oil. Every $10 per barrel increase in crude oil takes away 0.4 per cent of GDP by increasing India’s current account deficit by about $12 billion. Higher oil prices also have other consequences to a rapidly growing economy. Inevitably, the price of India’s imports will increase, foreign exchange reserves will deplete and the value of the rupee gets goes down.&nbsp;

The second major reason why India needs to be concerned about US-Iran tensions is that our agenda for a robust foreign policy would be hindered should pressure continue to rise. India carries excellent bilateral relations with Iran. The two nations share historical and cultural links with each other. They also cooperate on trade, oil imports and the development and operationalisation of the strategic Chabahar Port; an $85 million project. In the year 2018-19, total bilateral trade between India and Iran was over $15,600 million. Furthermore, in order to enhance India’s maritime strategy, PM Modi signed an agreement with Iran and Afghanistan to develop the Chabahar Port as a passage for increased trade, collaboration and transit. Should tensions escalate between the USA and Iran, no single country will be able to handle the magnitude and impact of conflict around the Gulf area. This could weather down the strong bilateral relations PM Modi has worked so hard to build.&nbsp;

Recently, India had also stopped importing Iranian oil in order to comply with US sanctions being imposed on Tehran. Indian firms involved in Iranian iron, steel, mining and automobile manufacturing sectors are therefore getting directly hit with increased US sanctions. And with continued hits on these sectors, infrastructure and development projects for the Chabahar port will also be adversely affected. &nbsp;

India is currently in a gravely precarious situation. If we completely stop taking oil from Iran, it impacts bilateral relations and trade. If we give in to American pressure, we plunder our own autonomy and risk as strong of a military relationship with the United States who called us a priority ally not too long ago. It is unlikely that India is going to defy the USA for Iran. But at the same time, we diminish our own autonomy; something that PM Modi’s NDA government has worked hard to build.&nbsp;

For these reasons, it is essential that India must play a more active leadership role in the US-Iran conflict de-escalation initiatives. In particular, India must work to get a formal or informal exemption from America to continue to get oil from Iran. If that is not possible, India can increase investment in the Chabahar Port. This maintains a positive relationship with Iran and does not defy the United States. 
 
The bottom line is that even though a US-Iran war is unlikely, peaking tensions only hinder India’s foreign policy, relations and economic activities. Consequently, the time and occasion to step up for India is now.&nbsp; 
 
(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL.)&nbsp;

Last week was tense as the US and Iran almost went at loggerheads with each other. The relationship between the two countries has deteriorated since the 1970s when Irani revolutionaries kicked out US-backed shah and took the US embassy hostage.

Last week was tense as the US and Iran almost went at loggerheads with each other. The relationship between the two countries has deteriorated since the 1970s when Irani revolutionaries kicked out US-backed shah and took the US embassy hostage. In 2015, the US signed a deal to stop Iran’s nuclear agenda but President Donald Trump pulled out of the deal completely saying that it wasn’t enough and instead, implemented heavy sanctions that are squeezing Iran’s economy. Tensions have reached a peak as of last week after weeks of threats from Iran against US troops. On Thursday (June 20), Iran gunned down an unmanned military drone that it said was in its airspace. The US denies that it was intruding on Iranian territory. Soon after, it was found that the USA had called for a retaliatory strike against Iran- literally ships and places in place and ready to go. This was called off. But certainly kept the world on a jittery edge. And in particular, India; who should be gravely concerned for two major reasons. First, this will exponentially increase oil cost for India. With a width of only 35 nautical miles, the Strait of Hormuz is the only passage between the Persian Gulf and the Gulf of Oman. It is through this narrow strip of sea that 20 per cent of the world global crude and 25 per cent of the world LNG (liquefied natural gas) goes through. Additionally, Iran has been one of India’s top energy suppliers (crude oil) for over a decade. India also purchases natural gas from Iran. Therefore, India is dependent on the Strait of Hormuz for its energy imports. Continued tensions at this level between the US and Iran could prove difficult for India’s economy; especially at a time when Modi’s NDA is set to increase federal spending on energising India’s economy. In fact, the account of Iran allegedly shooting down the US drone in its airspace earlier this week has already led to increased oil prices; globally, a five per cent spike. Exactly how does India get affected with higher oil prices? India’s oil and petrol prices have inherently remained in the low range without volatility. This has allowed the central government to spend on other areas like affordable housing, healthcare, electricity and multiple Swachh Bharat initiatives at a time when the GDP requires this diverse spending. With volatile oil prices, consumers will be pinched and a significant chunk of government spending and reserves will be forced to go to oil. Every $10 per barrel increase in crude oil takes away 0.4 per cent of GDP by increasing India’s current account deficit by about $12 billion. Higher oil prices also have other consequences to a rapidly growing economy. Inevitably, the price of India’s imports will increase, foreign exchange reserves will deplete and the value of the rupee gets goes down. The second major reason why India needs to be concerned about US-Iran tensions is that our agenda for a robust foreign policy would be hindered should pressure continue to rise. India carries excellent bilateral relations with Iran. The two nations share historical and cultural links with each other. They also cooperate on trade, oil imports and the development and operationalisation of the strategic Chabahar Port; an $85 million project. In the year 2018-19, total bilateral trade between India and Iran was over $15,600 million. Furthermore, in order to enhance India’s maritime strategy, PM Modi signed an agreement with Iran and Afghanistan to develop the Chabahar Port as a passage for increased trade, collaboration and transit. Should tensions escalate between the USA and Iran, no single country will be able to handle the magnitude and impact of conflict around the Gulf area. This could weather down the strong bilateral relations PM Modi has worked so hard to build. Recently, India had also stopped importing Iranian oil in order to comply with US sanctions being imposed on Tehran. Indian firms involved in Iranian iron, steel, mining and automobile manufacturing sectors are therefore getting directly hit with increased US sanctions. And with continued hits on these sectors, infrastructure and development projects for the Chabahar port will also be adversely affected. India is currently in a gravely precarious situation. If we completely stop taking oil from Iran, it impacts bilateral relations and trade. If we give in to American pressure, we plunder our own autonomy and risk as strong of a military relationship with the United States who called us a priority ally not too long ago. It is unlikely that India is going to defy the USA for Iran. But at the same time, we diminish our own autonomy; something that PM Modi’s NDA government has worked hard to build. For these reasons, it is essential that India must play a more active leadership role in the US-Iran conflict de-escalation initiatives. In particular, India must work to get a formal or informal exemption from America to continue to get oil from Iran. If that is not possible, India can increase investment in the Chabahar Port. This maintains a positive relationship with Iran and does not defy the United States. The bottom line is that even though a US-Iran war is unlikely, peaking tensions only hinder India’s foreign policy, relations and economic activities. Consequently, the time and occasion to step up for India is now. (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL.)

US-Iran tensions and why India needs to step up its game

The US will impose "major" additional sanctions on Iran in a bid to prevent the country obtaining nuclear weapons, President Donald Trump says.

Trump announces 'major' sanctions amid tensions on Iran

Any conflict in the Gulf region may spread uncontrollably and threaten the lives of US&nbsp;troops, a senior Iranian military commander said on Sunday after US President Donald Trump said he would impose further sanctions on the Islamic Republic.

While flagging more sanctions, Trump had also said on Saturday he wanted to make a deal to bolster Iran`s economy in an apparent move to defuse tensions following the shooting down of an unmanned US drone this week by the Islamic Republic.

Trump has said he aborted a military strike to retaliate for Iran`s downing of the drone because it could have killed 150 people.&nbsp;

"Neither Iran nor any other hostile actor should <a href="https://www.wionews.com/world/us-army-is-ready-to-go-dont-mistake-our-discretion-for-weakness-us-national-security-advisor-john-bolton-tells-iran-229716">mistake US&nbsp;prudence and discretion for weakness</a>. No one has granted them a hunting license in the Middle East," US National Security Adviser John Bolton said on Sunday during a visit to Israel.

Iran has said it would respond firmly to any threat against it and warned on Sunday of the risks of a military confrontation.

"If a conflict breaks out in the region, no country would be able to manage its scope and timing," Major General Gholamali Rashid said, according to the semi-official news agency Fars.&nbsp;

"The American government must act responsibly to protect the lives of American troops by avoiding misconduct in the region."

Tensions in the region began to worsen significantly when Trump pulled out of a 2015 nuclear deal between Iran and six powers and reimposed sanctions on the country. The sanctions had been lifted under the pact in return for Tehran curbing its nuclear programme.

Iran is feeling the effects of the sanctions, Bolton told reporters, adding Iran would never be allowed nuclear weapons.&nbsp;

"Iran`s continued pursuit of nuclear weapons, its threats to exceed the limits set in the failed Iran nuclear deal in the coming days ... are not signs of a nation seeking peace," Bolton said.

"Sanctions are biting, and more added last night," he said. "Iran can never have nuclear weapons - not against the USA and not against the world."

US&nbsp;ally Israel, which has itself long threatened strikes against Iran`s disputed nuclear programme, signalled backing for Trump`s stance.

"With all due respect to the fact that 150 Iranians were spared a cruel fate, the real major thing is the American policy (which) absolutely serves the interests of the world and of Israel in preventing Iran from getting nuclear weaponry," Regional Cooperation Minister Tzachi Hanegbi told Israel Radio.

Nuclear deadline running out

Tensions in the Gulf can only be addressed politically and priority should be de-escalation and dialogue, a senior United Arab Emirates official said on Sunday.

"Crisis long in the making requires collective attention; primarily to de-escalate and to find political solutions through dialogue and negotiations," Minister of State for Foreign Affairs Anwar Gargash said in a Twitter post.

Iran may further scale back compliance with its nuclear deal in two weeks unless European countries shield it from US&nbsp;sanctions through a trade mechanism, the head of Tehran`s Strategic Council on Foreign Relations said.

"If Europeans don`t take measures within the 60-day deadline (announced by Iran in May), we will take new steps," the semi-official news agency ISNA quoted Kamal Kharazi, a former foreign minister, as saying.&nbsp;

"It would be a positive steps if they put resources in (the planned European trade mechanism) Instex and ...make trade possible," Kharazi said. "We have to see in the next two week whether they only make promises or they take practical steps."&nbsp;

Kharazi was speaking after meeting Britain’s Middle East minister Andrew Murrison, who visited Tehran for "frank and constructive" talks and to call for urgent de-escalation in the region, according to the Foreign Office.&nbsp;

Meanwhile, Iranian lawmakers chanted "Death to America" during a parliament session on Sunday after a speaker accused the United States of being the "real world terrorist".

"America is the real terrorist in the world by spreading chaos in countries, giving advanced weapons to terrorist groups, causing insecurity, and still it says `Come, let`s negotiate`," the parliament`s deputy speaker, Masoud Pezeshkian, said at the start of a session broadcast live on state radio.

"Death to America," chanted many lawmakers.

The chants, often repeated since the 1979 Islamic revolution which toppled the US-backed Shah, came weeks after Trump said in a US&nbsp;television interview: "They (Iranians) haven`t screamed `death to America` lately."&nbsp;

Any conflict in the Gulf region may spread uncontrollably and threaten the lives of US troops, a senior Iranian military commander said on Sunday after US President Donald Trump said he would impose further sanctions on the Islamic Republic.

Any conflict in the Gulf region may spread uncontrollably and threaten the lives of US troops, a senior Iranian military commander said on Sunday after US President Donald Trump said he would impose further sanctions on the Islamic Republic. While flagging more sanctions, Trump had also said on Saturday he wanted to make a deal to bolster Iran`s economy in an apparent move to defuse tensions following the shooting down of an unmanned US drone this week by the Islamic Republic. Trump has said he aborted a military strike to retaliate for Iran`s downing of the drone because it could have killed 150 people. "Neither Iran nor any other hostile actor should mistake US prudence and discretion for weakness. No one has granted them a hunting license in the Middle East," US National Security Adviser John Bolton said on Sunday during a visit to Israel. Iran has said it would respond firmly to any threat against it and warned on Sunday of the risks of a military confrontation. "If a conflict breaks out in the region, no country would be able to manage its scope and timing," Major General Gholamali Rashid said, according to the semi-official news agency Fars. "The American government must act responsibly to protect the lives of American troops by avoiding misconduct in the region." Tensions in the region began to worsen significantly when Trump pulled out of a 2015 nuclear deal between Iran and six powers and reimposed sanctions on the country. The sanctions had been lifted under the pact in return for Tehran curbing its nuclear programme. Iran is feeling the effects of the sanctions, Bolton told reporters, adding Iran would never be allowed nuclear weapons. "Iran`s continued pursuit of nuclear weapons, its threats to exceed the limits set in the failed Iran nuclear deal in the coming days ... are not signs of a nation seeking peace," Bolton said. "Sanctions are biting, and more added last night," he said. "Iran can never have nuclear weapons - not against the USA and not against the world." US ally Israel, which has itself long threatened strikes against Iran`s disputed nuclear programme, signalled backing for Trump`s stance. "With all due respect to the fact that 150 Iranians were spared a cruel fate, the real major thing is the American policy (which) absolutely serves the interests of the world and of Israel in preventing Iran from getting nuclear weaponry," Regional Cooperation Minister Tzachi Hanegbi told Israel Radio. Nuclear deadline running out Tensions in the Gulf can only be addressed politically and priority should be de-escalation and dialogue, a senior United Arab Emirates official said on Sunday. "Crisis long in the making requires collective attention; primarily to de-escalate and to find political solutions through dialogue and negotiations," Minister of State for Foreign Affairs Anwar Gargash said in a Twitter post. Iran may further scale back compliance with its nuclear deal in two weeks unless European countries shield it from US sanctions through a trade mechanism, the head of Tehran`s Strategic Council on Foreign Relations said. "If Europeans don`t take measures within the 60-day deadline (announced by Iran in May), we will take new steps," the semi-official news agency ISNA quoted Kamal Kharazi, a former foreign minister, as saying. "It would be a positive steps if they put resources in (the planned European trade mechanism) Instex and ...make trade possible," Kharazi said. "We have to see in the next two week whether they only make promises or they take practical steps." Kharazi was speaking after meeting Britain’s Middle East minister Andrew Murrison, who visited Tehran for "frank and constructive" talks and to call for urgent de-escalation in the region, according to the Foreign Office. Meanwhile, Iranian lawmakers chanted "Death to America" during a parliament session on Sunday after a speaker accused the United States of being the "real world terrorist". "America is the real terrorist in the world by spreading chaos in countries, giving advanced weapons to terrorist groups, causing insecurity, and still it says `Come, let`s negotiate`," the parliament`s deputy speaker, Masoud Pezeshkian, said at the start of a session broadcast live on state radio. "Death to America," chanted many lawmakers. The chants, often repeated since the 1979 Islamic revolution which toppled the US-backed Shah, came weeks after Trump said in a US television interview: "They (Iranians) haven`t screamed `death to America` lately."

Iran warns war would spread across Gulf, threaten US troops

Iran will ask Japan to mediate between <a href="https://www.wionews.com/world/japanese-prime-minister-abe-set-for-mediation-mission-to-iran-224969">Tehran and Washington</a> to ease oil sanctions imposed by the United States, Iranian officials said on Wednesday, as Japanese Prime Minister Shinzo Abe arrived in the country for a two-day visit.

Abe, the <a href="https://www.wionews.com/world/japan-pm-abe-to-meet-irans-supreme-leader-khamenei-to-mediate-with-us-report-223544">first Japanese leader to visit Iran</a> since its 1979 Islamic Revolution, landed in Tehran as a brewing confrontation between Iran and the United States stokes fear of another military conflict in the crisis-ridden Middle East.

"Japan can help in easing the ongoing tension between Iran and America... As a goodwill gesture, America should either lift the unjust oil sanctions or extend the waivers or suspend them," a senior Iranian official told Reuters.

Iranian state TV broadcast live footage of Abe's arrival, saying he will later hold talks with President Hassan Rouhani and on Thursday will meet the Islamic Republic's top authority, Supreme Leader Ayatollah Ali Khamenei.

On a four-day visit to Japan last month, <a href="https://www.wionews.com/world/trade-beef-aside-trump-and-abe-bond-over-burgers-sumo-and-golf-221840">US President Donald Trump welcomed Abe's help in dealing with Iran</a>, highlighting what he called the "very good relationship" between Tokyo and Tehran.

As a US ally that also has good diplomatic relations with Iran, Japan could be in a unique position to mediate between the Islamic Republic and the United States.

"Mr. Abe can be a great mediator to facilitate that (easing of oil sanctions)... Japan has always respected Iran, and Mr. Abe can play a very constructive role to calm the ongoing tension that can harm the (Middle East) region," said another Iranian official, who asked not to be named.

Strains between Washington and Tehran have sharply increased in recent weeks, a year after the United States abandoned a 2015 nuclear agreement between Iran and world powers to curb Tehran’s nuclear programme in exchange for the lifting of sanctions.

Trump cranks up pressure on Iran

Washington, calling the nuclear deal flawed and seeking to push Iran into new negotiations, intensified sanctions from the start of May, ordering all countries and firms to halt imports of Iranian oil or be banished from the global financial system.

It has also dispatched extra armed forces to the region to counter what it describes as Iranian threats.

Iran threatened in May that in 60 days it would resume enrichment of uranium beyond the low fissile purity - suitable for civilian nuclear power generation - allowed under the deal, unless other powers signed up to it found a way to protect Iran's oil and banking industries from US sanctions.

European parties of the deal have promised to help Iran find other ways to trade, although with no success so far. All major European companies that had announced plans to invest in Iran have since called them off for fear of US punishment.

"Japan wants to do as much as possible towards peace and stability in the Middle East," Abe said in Tokyo ahead of his departure, according to Iranian TV.

Rouhani said on Wednesday that Tehran will focus on defending its interests, according to state TV.

"During the talks with foreign leaders, Iran's interests and preserving these rights will be our priority," it quoted Rouhani as saying.

To achieve his aim of slashing Iran's oil exports to zero, the Trump administration has revoked waivers since May that had allowed some countries, including Japan, to continue buying Iranian crude and has effectively ordered countries to stop purchasing Iranian oil or face sanctions of their own.

Despite pushing for imports to continue, Japan has stopped importing oil from Iran for now to avoid US sanctions.

Iran will ask Japan to mediate between Tehran and Washington to ease oil sanctions imposed by the United States, Iranian officials said on Wednesday, as Japanese Prime Minister Shinzo Abe arrived in the country for a two-day visit.

Iran will ask Japan to mediate between Tehran and Washington to ease oil sanctions imposed by the United States, Iranian officials said on Wednesday, as Japanese Prime Minister Shinzo Abe arrived in the country for a two-day visit. Abe, the first Japanese leader to visit Iran since its 1979 Islamic Revolution, landed in Tehran as a brewing confrontation between Iran and the United States stokes fear of another military conflict in the crisis-ridden Middle East. "Japan can help in easing the ongoing tension between Iran and America... As a goodwill gesture, America should either lift the unjust oil sanctions or extend the waivers or suspend them," a senior Iranian official told Reuters. Iranian state TV broadcast live footage of Abe's arrival, saying he will later hold talks with President Hassan Rouhani and on Thursday will meet the Islamic Republic's top authority, Supreme Leader Ayatollah Ali Khamenei. On a four-day visit to Japan last month, US President Donald Trump welcomed Abe's help in dealing with Iran, highlighting what he called the "very good relationship" between Tokyo and Tehran. As a US ally that also has good diplomatic relations with Iran, Japan could be in a unique position to mediate between the Islamic Republic and the United States. "Mr. Abe can be a great mediator to facilitate that (easing of oil sanctions)... Japan has always respected Iran, and Mr. Abe can play a very constructive role to calm the ongoing tension that can harm the (Middle East) region," said another Iranian official, who asked not to be named. Strains between Washington and Tehran have sharply increased in recent weeks, a year after the United States abandoned a 2015 nuclear agreement between Iran and world powers to curb Tehran’s nuclear programme in exchange for the lifting of sanctions. Trump cranks up pressure on Iran Washington, calling the nuclear deal flawed and seeking to push Iran into new negotiations, intensified sanctions from the start of May, ordering all countries and firms to halt imports of Iranian oil or be banished from the global financial system. It has also dispatched extra armed forces to the region to counter what it describes as Iranian threats. Iran threatened in May that in 60 days it would resume enrichment of uranium beyond the low fissile purity - suitable for civilian nuclear power generation - allowed under the deal, unless other powers signed up to it found a way to protect Iran's oil and banking industries from US sanctions. European parties of the deal have promised to help Iran find other ways to trade, although with no success so far. All major European companies that had announced plans to invest in Iran have since called them off for fear of US punishment. "Japan wants to do as much as possible towards peace and stability in the Middle East," Abe said in Tokyo ahead of his departure, according to Iranian TV. Rouhani said on Wednesday that Tehran will focus on defending its interests, according to state TV. "During the talks with foreign leaders, Iran's interests and preserving these rights will be our priority," it quoted Rouhani as saying. To achieve his aim of slashing Iran's oil exports to zero, the Trump administration has revoked waivers since May that had allowed some countries, including Japan, to continue buying Iranian crude and has effectively ordered countries to stop purchasing Iranian oil or face sanctions of their own. Despite pushing for imports to continue, Japan has stopped importing oil from Iran for now to avoid US sanctions.

Iran to ask Japan's Abe to mediate over US oil sanctions: Officials

In this video, Political Analyst, Syed Mohammad Marandi speaks to WION over US-Iran conflicts.

Syed Mohammad Marandi speaks to WION over US-Iran conflicts

In this video, Political Analyst, Nicholas Grossman speaks to WION over US-Iran conflicts.

Nicholas Grossman speaks to WION over US-Iran conflicts

Mike Pompeo to visit India next week to seek India's cooperation on Iran. Watch this video to know more.

Pompeo to visit India next week to seek India's cooperation on Iran

Iran and the current situation in Strait of Hormuz will be <a href="https://www.wionews.com/india-news/iran-oil-imports-trade-top-agenda-during-pompeos-india-visit-229443">on agenda</a> when US Secretary of State <a href="https://www.wionews.com/world/pompeo-to-seek-stronger-strategic-ties-with-india-despite-trade-tensions-229376">Mike Pompeo visits India next week</a>.

While the US has appreciated the steps India has taken to reduce Iranian oil import, it is also providing an exception to New Delhi-backed Chabahar project that has been a key connectivity project of India.

The import of oil from Iran has been one of the key contentions between New Delhi and Washington after American waivers ended on sanctions imposed by Washington but the current standoff between Iran and US is something that has been a cause of worry for New Delhi.&nbsp;

Last week, reports emerged that the US President had planned to attack Iran after Tehran shot down an American drone. This has caused considerable tension in Strait of Hormuz, a vital area connecting Persian Gulf and sea of Oman through which 20 per cent of global crude oil and a third of liquefied natural gas passes.

Watch: Pompeo to visit India next week to seek India's cooperation on Iran

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/pompeo-to-visit-india-next-week-to-seek-indias-cooperation-on-iran-229393/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Energy interests

Meanwhile, New Delhi is keeping its interest secure. Oil minister Dharmendra Pradhan has called Saudi oil minister Khalid Al Falih conveying India's concern on rising crude oil prices in backdrop of the developments in the Strait of Hormuz.&nbsp;

Pradhan, in a tweet, said that he "reiterated the sensitivity of Indian consumers to prevailing crude oil price volatility," adding, New Delhi has sought an active role from Riyadh which is part of oil cartel OPEC in keeping "oil prices at a reasonable level".

Aviation

Impacts will also be seen on the aviation front with Indian airlines re-routing the flights in that area. Civil aviation regulator DGCA or Directorate General of Civil Aviation on Saturday announced that Indian carriers will avoid "the affected part of Iranian Airspace" to ensure safe travel for the passengers.&nbsp;

This comes after the American civil aviation regulator Federal Aviation Administration or FAA banned American flights from using the Persian Gulf, Strait of Hormuz and sea of Oman area.

Shipping&nbsp;

Last week, the Indian Navy launched Operation Sankalp in the Persian Gulf/Sea of Oman as a measure to re-assure Indian flagged vessels transiting through the region.&nbsp;

The Navy deployed INS Chennai and INS Sunayna in the area to undertake Maritime Security operations. Aerial surveillance has also being undertaken by India and the Information Fusion Centre - Indian Ocean Region in Gurugram - is also keeping a close watch on the movement of ships in the Gulf.&nbsp;

The Navy in a release said it, "remains committed to ensuring the safety of Indian maritime trade and merchant vessels operating in the region and contributing towards maintaining a stable and peaceful Indian Ocean Region."

DG Shipping had issued two advisories, one on June 13 and another on June 16 to all Indian Flagged Vessels advising them to undertake appropriate protection measures.

Iran and the current situation in Strait of Hormuz will be on agenda when US Secretary of State Mike Pompeo visits India next week. While the US has appreciated the steps India has taken to reduce Iranian oil import, it is also providing an exception to New Delhi-backed Chabahar project that has been a key connectivity project of India.

Iran and the current situation in Strait of Hormuz will be on agenda when US Secretary of State Mike Pompeo visits India next week. While the US has appreciated the steps India has taken to reduce Iranian oil import, it is also providing an exception to New Delhi-backed Chabahar project that has been a key connectivity project of India. The import of oil from Iran has been one of the key contentions between New Delhi and Washington after American waivers ended on sanctions imposed by Washington but the current standoff between Iran and US is something that has been a cause of worry for New Delhi. Last week, reports emerged that the US President had planned to attack Iran after Tehran shot down an American drone. This has caused considerable tension in Strait of Hormuz, a vital area connecting Persian Gulf and sea of Oman through which 20 per cent of global crude oil and a third of liquefied natural gas passes. Watch: Pompeo to visit India next week to seek India's cooperation on Iran Energy interests Meanwhile, New Delhi is keeping its interest secure. Oil minister Dharmendra Pradhan has called Saudi oil minister Khalid Al Falih conveying India's concern on rising crude oil prices in backdrop of the developments in the Strait of Hormuz. Pradhan, in a tweet, said that he "reiterated the sensitivity of Indian consumers to prevailing crude oil price volatility," adding, New Delhi has sought an active role from Riyadh which is part of oil cartel OPEC in keeping "oil prices at a reasonable level". Aviation Impacts will also be seen on the aviation front with Indian airlines re-routing the flights in that area. Civil aviation regulator DGCA or Directorate General of Civil Aviation on Saturday announced that Indian carriers will avoid "the affected part of Iranian Airspace" to ensure safe travel for the passengers. This comes after the American civil aviation regulator Federal Aviation Administration or FAA banned American flights from using the Persian Gulf, Strait of Hormuz and sea of Oman area. Shipping Last week, the Indian Navy launched Operation Sankalp in the Persian Gulf/Sea of Oman as a measure to re-assure Indian flagged vessels transiting through the region. The Navy deployed INS Chennai and INS Sunayna in the area to undertake Maritime Security operations. Aerial surveillance has also being undertaken by India and the Information Fusion Centre - Indian Ocean Region in Gurugram - is also keeping a close watch on the movement of ships in the Gulf. The Navy in a release said it, "remains committed to ensuring the safety of Indian maritime trade and merchant vessels operating in the region and contributing towards maintaining a stable and peaceful Indian Ocean Region." DG Shipping had issued two advisories, one on June 13 and another on June 16 to all Indian Flagged Vessels advising them to undertake appropriate protection measures.

Iran in focus during Pompeo's visit to India; New Delhi takes measures to protect interest

Iran warned the United States on Saturday that any <a href="https://www.wionews.com/world/will-firmly-confront-any-aggression-or-threat-by-america-iran-229442">aggression against the Islamic republic</a> would have serious consequences for US interests across the Middle East.

"Firing one bullet towards Iran will set fire to the interests of America and its allies", armed forces general staff spokesman Brigadier General Abolfazl Shekarchi told the Tasnim news agency.

"Today, the situation in the region is to Iran’s advantage.

"If the enemy - especially America and its allies in the region - make the military mistake of shooting the powder keg on which America's interests lie, the region will be set on fire," Shekarchi warned.

President Donald Trump said Friday that the United States was "<a href="https://www.wionews.com/world/trump-says-he-aborted-retaliatory-strike-to-spare-iranian-lives-229374">cocked &amp; loaded" to strike Iran</a> but pulled back at the last minute as it would not have been a "proportionate" response to Tehran's shooting down of an unmanned US drone.

Watch: Trump says, 'not looking for war with Iran'

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/trump-not-looking-for-war-with-iran-229399/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

The downing of the drone - which Tehran insists violated its airspace, a claim Washington denies - has seen tensions between the two countries spike after a series of attacks on oil tankers the US has blamed on Iran.

Under pressure to respond to the high-stakes incident near the strategic Strait of Hormuz, Trump said the US was prepared to hit "3 different sites" Thursday night but that he scrapped the strikes "10 minutes" before they were to have been launched.

"I asked, how many will die. 150 people, sir, was the answer from a General," the president tweeted, saying he concluded it would not have been "proportionate to shooting down an unmanned drone."

According to excerpts of an interview with NBC's "Meet the Press" conducted Friday morning at the White House, Trump said he had not given final approval to strikes against Iran, and that no planes were in the air.

"But they would have been pretty soon. And things would have happened to a point where you wouldn't turn back or couldn't turn back," he said, adding that he did not want war with Iran, but if it came to pass, there would be "obliteration like you've never seen before."

The US president had struck a combative tone in initial comments Thursday about Iran shooting down the Global Hawk surveillance aircraft, but as the pre-dawn incident whipped up fears of open conflict, Trump moved to dial back tensions.

Iran vowed Friday to defend its borders after downing the drone, with the commander of the aerospace arm of its elite Revolutionary Guards saying the aircraft was warned twice before it was engaged over the Gulf of Oman.

And it denied a report that Trump had warned it via Oman of an impending attack unless it was willing to negotiate.

The US special representative on Iran, Brian Hook, accused Tehran of rejecting diplomatic overtures to deescalate regional tensions.

"Iran needs to meet diplomacy with diplomacy, not military force," Hook told reporters in Saudi Arabia.

Iran warned the United States on Saturday that any aggression against the Islamic republic would have serious consequences for US interests across the Middle East.

Iran warned the United States on Saturday that any aggression against the Islamic republic would have serious consequences for US interests across the Middle East. "Firing one bullet towards Iran will set fire to the interests of America and its allies", armed forces general staff spokesman Brigadier General Abolfazl Shekarchi told the Tasnim news agency. "Today, the situation in the region is to Iran’s advantage. "If the enemy - especially America and its allies in the region - make the military mistake of shooting the powder keg on which America's interests lie, the region will be set on fire," Shekarchi warned. President Donald Trump said Friday that the United States was "cocked & loaded" to strike Iran but pulled back at the last minute as it would not have been a "proportionate" response to Tehran's shooting down of an unmanned US drone. Watch: Trump says, 'not looking for war with Iran' The downing of the drone - which Tehran insists violated its airspace, a claim Washington denies - has seen tensions between the two countries spike after a series of attacks on oil tankers the US has blamed on Iran. Under pressure to respond to the high-stakes incident near the strategic Strait of Hormuz, Trump said the US was prepared to hit "3 different sites" Thursday night but that he scrapped the strikes "10 minutes" before they were to have been launched. "I asked, how many will die. 150 people, sir, was the answer from a General," the president tweeted, saying he concluded it would not have been "proportionate to shooting down an unmanned drone." According to excerpts of an interview with NBC's "Meet the Press" conducted Friday morning at the White House, Trump said he had not given final approval to strikes against Iran, and that no planes were in the air. "But they would have been pretty soon. And things would have happened to a point where you wouldn't turn back or couldn't turn back," he said, adding that he did not want war with Iran, but if it came to pass, there would be "obliteration like you've never seen before." The US president had struck a combative tone in initial comments Thursday about Iran shooting down the Global Hawk surveillance aircraft, but as the pre-dawn incident whipped up fears of open conflict, Trump moved to dial back tensions. Iran vowed Friday to defend its borders after downing the drone, with the commander of the aerospace arm of its elite Revolutionary Guards saying the aircraft was warned twice before it was engaged over the Gulf of Oman. And it denied a report that Trump had warned it via Oman of an impending attack unless it was willing to negotiate. The US special representative on Iran, Brian Hook, accused Tehran of rejecting diplomatic overtures to deescalate regional tensions. "Iran needs to meet diplomacy with diplomacy, not military force," Hook told reporters in Saudi Arabia.

Firing one bullet towards Iran will set fire to America's interests: Iran

Iran will respond firmly to any US threat against it, news agency Reuters reported citing&nbsp;the semi-official Tasnim news agency.

"We will not allow any violation against Iran's borders. Iran will firmly confront any aggression or threat by America," foreign ministry spokesman Abbas Mousavi told local media.

"Regardless of any decision they (US officials) make, we will not allow the Islamic Republic’s territory to be violated,"&nbsp;Mousavi added.

The continuing tension between Washington and Iran intensified on Thursday after an Iranian missile destroyed&nbsp;a US Global Hawk surveillance drone. Tehran said the drone was shot down over its territory and Washington said it occurred in international airspace&nbsp;over the Strait of Hormuz.

Following the&nbsp;downing of the unmanned US drone,&nbsp;President Donald Trump said&nbsp;he <a href="https://www.wionews.com/world/trump-says-he-aborted-retaliatory-strike-to-spare-iranian-lives-229374">aborted a military strike as retaliation</a> because it could have killed 150 people. He also&nbsp;signalled that he was open to talks with Tehran.

During an interview with a US channel, Trump said, "I'm not looking for war, and if there is <a href="https://www.wionews.com/world/trump-says-doesnt-want-war-with-iran-but-therell-be-obliteration-if-it-happens-229438">it'll be obliteration like you've never seen before</a>. But I'm not looking to do that."

The incident aggravated fears of a direct military clash between the longtime foes. Oil futures rose more than 1% to above $65 per barrel on Friday over worries about possible disruptions to crude exports from the Gulf.&nbsp;

Trump's decision in May to tighten sanctions to try to eliminate Iran's oil exports led to the latest tensions. In May 2018, Trump unilaterally withdrew Washington from a 2015 accord between Iran and major powers under which Tehran curtailed its path to building a nuclear bomb in return for sanctions relief.

(With inputs from agencies)

&nbsp;

Iran will respond firmly to any US threat against it, news agency Reuters reported citing the semi-official Tasnim news agency. "We will not allow any violation against Iran's borders.

Iran will respond firmly to any US threat against it, news agency Reuters reported citing the semi-official Tasnim news agency. "We will not allow any violation against Iran's borders. Iran will firmly confront any aggression or threat by America," foreign ministry spokesman Abbas Mousavi told local media. "Regardless of any decision they (US officials) make, we will not allow the Islamic Republic’s territory to be violated," Mousavi added. The continuing tension between Washington and Iran intensified on Thursday after an Iranian missile destroyed a US Global Hawk surveillance drone. Tehran said the drone was shot down over its territory and Washington said it occurred in international airspace over the Strait of Hormuz. Following the downing of the unmanned US drone, President Donald Trump said he aborted a military strike as retaliation because it could have killed 150 people. He also signalled that he was open to talks with Tehran. During an interview with a US channel, Trump said, "I'm not looking for war, and if there is it'll be obliteration like you've never seen before. But I'm not looking to do that." The incident aggravated fears of a direct military clash between the longtime foes. Oil futures rose more than 1% to above $65 per barrel on Friday over worries about possible disruptions to crude exports from the Gulf. Trump's decision in May to tighten sanctions to try to eliminate Iran's oil exports led to the latest tensions. In May 2018, Trump unilaterally withdrew Washington from a 2015 accord between Iran and major powers under which Tehran curtailed its path to building a nuclear bomb in return for sanctions relief. (With inputs from agencies)

Will firmly confront any aggression or threat by America: Iran

U.S. Sanctions Plunged Iran Into Economic Crises U.S. sanctions have hurt Iran's economy hard. Inflation rate is at an all-time high. Iran's oil exports have halved. The economy shrunk by 4%. European Union's efforts to bypass these sanctions have failed spectacularly. Did Iran have any choice other than to retaliate? Has Iran been pushed to the wall by the U.S.? Here's a report

Gravitas: Has Iran been pushed to the wall by the US?

<a href="https://www.wionews.com/world/waves-of-voices-within-us-against-additional-tariffs-going-higher-china-228368">Waves of voices within US against additional tariffs going higher: China</a>

China on Tuesday urged the United States to properly solve trade disputes through consultations based on the principles of equality and mutual respect.

<a href="https://www.wionews.com/world/us-response-to-s-400-missile-defence-not-in-spirit-of-an-alliance-turkey-228392">US response to S-400 missile defence not in spirit of an alliance: Turkey</a>

Turkey on Tuesday accused the US of not acting as an ally in its official response to Washington's ultimatum to Ankara to abandon a Russian missile defence system deal.

<a href="https://www.wionews.com/india-news/2005-ayodhya-terror-attack-case-prayagraj-court-sentences-four-to-life-imprisonment-acquits-one-228322">2005 Ayodhya terror attack case: Prayagraj court sentences four to life imprisonment, acquits one&nbsp;</a>

Prayagraj Special Court on Tuesday pronounced its verdict on 2005 Ayodhya terror attack case. Four convicts have been sentenced to life imprisonment, whereas one person has been acquitted, news agency ANI reported.&nbsp;

<a href="https://www.wionews.com/south-asia/cash-strapped-pakistan-inks-3-loan-deals-worth-918-million-with-world-bank-228323">Cash-strapped Pakistan inks 3 loan deals worth $918 million with World Bank</a>

Pakistan on Tuesday signed three loan agreements worth a total of $918 million with the World Bank, Prime Minister Imran Khan's adviser on finance has said as the cash-strapped country tries to overcome a ballooning balance-of-payments crisis that threatens to cripple its economy.

<a href="https://www.wionews.com/world/wont-wage-war-says-iran-president-hassan-rouhani-as-us-deploys-more-troops-to-middle-east-228306">'Won't wage war,' says Iran President Hassan Rouhani as US deploys more troops to Middle East</a>

President Hassan Rouhani said on Tuesday Iran would not wage war against any nation, sounding a note of restraint after the United States announced more troop deployments to the Middle East.

Waves of voices within US against additional tariffs going higher: China China on Tuesday urged the United States to properly solve trade disputes through consultations based on the principles of equality and mutual respect.

Waves of voices within US against additional tariffs going higher: China China on Tuesday urged the United States to properly solve trade disputes through consultations based on the principles of equality and mutual respect. US response to S-400 missile defence not in spirit of an alliance: Turkey Turkey on Tuesday accused the US of not acting as an ally in its official response to Washington's ultimatum to Ankara to abandon a Russian missile defence system deal. 2005 Ayodhya terror attack case: Prayagraj court sentences four to life imprisonment, acquits one Prayagraj Special Court on Tuesday pronounced its verdict on 2005 Ayodhya terror attack case. Four convicts have been sentenced to life imprisonment, whereas one person has been acquitted, news agency ANI reported. Cash-strapped Pakistan inks 3 loan deals worth $918 million with World Bank Pakistan on Tuesday signed three loan agreements worth a total of $918 million with the World Bank, Prime Minister Imran Khan's adviser on finance has said as the cash-strapped country tries to overcome a ballooning balance-of-payments crisis that threatens to cripple its economy. 'Won't wage war,' says Iran President Hassan Rouhani as US deploys more troops to Middle East President Hassan Rouhani said on Tuesday Iran would not wage war against any nation, sounding a note of restraint after the United States announced more troop deployments to the Middle East.

News brief: Big stories of the day

US military releases new pictures of Oman Gulf terror attack; says it incriminate Iran

President Hassan Rouhani said on Tuesday Iran would not wage war against any nation, sounding a note of restraint after the <a href="https://www.wionews.com/world/us-approves-deployment-of-1000-additional-troops-to-middle-east-amid-iran-tensions-228136">United States announced more troop deployments</a> to the Middle East.

Fears of a confrontation between Iran and its long-time foe the United States have mounted since Thursday when two oil tankers were attacked near the strategic Strait of Hormuz shipping lane, which Washington blamed on Tehran.

Iran denied involvement in the attacks and said on Monday it would soon breach limits on how much-enriched uranium it can stockpile under a 2015 nuclear deal, which had sought to limit its nuclear capabilities.

Exceeding the uranium cap at the heart of the accord would prompt a diplomatic crisis, forcing the other signatories, which include China, Russia and European powers, to confront Iran.

The standoff drew a call for caution from China. Its top diplomat warned that the world should not open a "Pandora's Box" in the Middle East, as he denounced US pressure on Iran and called on it not to drop out of the landmark nuclear deal.

Russia <a href="https://www.wionews.com/world/russia-warns-us-over-extra-troop-deployment-to-middle-east-228294">urged restraint on all sides</a>.

In a speech, Rouhani dismissed US efforts to isolate Iran as unsuccessful and suggested the US administration of President Donald Trump was inexperienced in international affairs.

But he said Iran did not seek conflict.

"Iran will not wage war against any nation," Rouhani said in a speech broadcast live on state TV. "Despite all of the Americans' efforts in the region and their desire to cut off our ties with all of the world and their desire to keep Iran secluded, they have been unsuccessful."

On Monday, Iranian officials made several assertive comments about security, including the secretary of Iran's Supreme National Security Council, Ali Shamkhani, who said Tehran was responsible for security in the Gulf and urged US forces to leave the region.

Sanctions tightened

Acting US Defense Secretary Patrick Shanahan on Monday announced the deployment of about 1,000 more troops to the Middle East for what he said were defensive purposes, citing concerns about a threat from Iran.

The new US deployment is in addition to a 1,500-troop increase announced last month in response to tanker attacks in May. Washington previously tightened sanctions, ordering all countries and companies to halt imports of Iranian oil or be banished from the global financial system.

Iran's announcement on Monday that it would soon breach limits on how much-enriched uranium it can stockpile under the deal was denounced by a White House National Security Council spokesman as "nuclear blackmail."

The move further undermines the nuclear pact, but Rouhani said on Monday the collapse of the deal would not be in the interests of the region or the world.

The nuclear deal seeks to head off any pathway to an Iranian nuclear bomb in return for the removal of most international sanctions.

Speaking in Beijing, Chinese State Councillor Wang Yi said the United States should not use "extreme pressure" to resolve issues with Iran.

China 'very concerned'

Wang told reporters China, a close energy partner of Iran, was "of course, very concerned" about the situation in the Gulf and with Iran, and called on all sides to ease tension.

"We call on all sides to remain rational and exercise restraint, and not take any escalatory actions that irritate regional tensions, and not open a Pandora's box," Wang said.

"In particular, the US side should alter its extreme pressure methods," Wang said. "Any unilateral behaviour has no basis in international law. Not only will it not resolve the problem, it will only create an even greater crisis."

Wang also said the Iran nuclear deal was the only feasible way to resolve its nuclear issue, and urged Iran to be prudent.

European Union foreign policy chief Federica Mogherini said the EU would only react to any breach if the International Atomic Energy Agency formally identified one.

The Trump administration says the deal, negotiated by Democratic President Barack Obama, was flawed as it is not permanent, does not address Iran's missile program and does not punish it for waging proxy wars in other Middle East countries.

President Hassan Rouhani said on Tuesday Iran would not wage war against any nation, sounding a note of restraint after the United States announced more troop deployments to the Middle East.

President Hassan Rouhani said on Tuesday Iran would not wage war against any nation, sounding a note of restraint after the United States announced more troop deployments to the Middle East. Fears of a confrontation between Iran and its long-time foe the United States have mounted since Thursday when two oil tankers were attacked near the strategic Strait of Hormuz shipping lane, which Washington blamed on Tehran. Iran denied involvement in the attacks and said on Monday it would soon breach limits on how much-enriched uranium it can stockpile under a 2015 nuclear deal, which had sought to limit its nuclear capabilities. Exceeding the uranium cap at the heart of the accord would prompt a diplomatic crisis, forcing the other signatories, which include China, Russia and European powers, to confront Iran. The standoff drew a call for caution from China. Its top diplomat warned that the world should not open a "Pandora's Box" in the Middle East, as he denounced US pressure on Iran and called on it not to drop out of the landmark nuclear deal. Russia urged restraint on all sides. In a speech, Rouhani dismissed US efforts to isolate Iran as unsuccessful and suggested the US administration of President Donald Trump was inexperienced in international affairs. But he said Iran did not seek conflict. "Iran will not wage war against any nation," Rouhani said in a speech broadcast live on state TV. "Despite all of the Americans' efforts in the region and their desire to cut off our ties with all of the world and their desire to keep Iran secluded, they have been unsuccessful." On Monday, Iranian officials made several assertive comments about security, including the secretary of Iran's Supreme National Security Council, Ali Shamkhani, who said Tehran was responsible for security in the Gulf and urged US forces to leave the region. Sanctions tightened Acting US Defense Secretary Patrick Shanahan on Monday announced the deployment of about 1,000 more troops to the Middle East for what he said were defensive purposes, citing concerns about a threat from Iran. The new US deployment is in addition to a 1,500-troop increase announced last month in response to tanker attacks in May. Washington previously tightened sanctions, ordering all countries and companies to halt imports of Iranian oil or be banished from the global financial system. Iran's announcement on Monday that it would soon breach limits on how much-enriched uranium it can stockpile under the deal was denounced by a White House National Security Council spokesman as "nuclear blackmail." The move further undermines the nuclear pact, but Rouhani said on Monday the collapse of the deal would not be in the interests of the region or the world. The nuclear deal seeks to head off any pathway to an Iranian nuclear bomb in return for the removal of most international sanctions. Speaking in Beijing, Chinese State Councillor Wang Yi said the United States should not use "extreme pressure" to resolve issues with Iran. China 'very concerned' Wang told reporters China, a close energy partner of Iran, was "of course, very concerned" about the situation in the Gulf and with Iran, and called on all sides to ease tension. "We call on all sides to remain rational and exercise restraint, and not take any escalatory actions that irritate regional tensions, and not open a Pandora's box," Wang said. "In particular, the US side should alter its extreme pressure methods," Wang said. "Any unilateral behaviour has no basis in international law. Not only will it not resolve the problem, it will only create an even greater crisis." Wang also said the Iran nuclear deal was the only feasible way to resolve its nuclear issue, and urged Iran to be prudent. European Union foreign policy chief Federica Mogherini said the EU would only react to any breach if the International Atomic Energy Agency formally identified one. The Trump administration says the deal, negotiated by Democratic President Barack Obama, was flawed as it is not permanent, does not address Iran's missile program and does not punish it for waging proxy wars in other Middle East countries.

'Won't wage war,' says Iran President Hassan Rouhani as US deploys more troops to Middle East

Amid rising tension between the US and Iran over <a href="https://www.wionews.com/world/will-make-sure-to-guarantee-freedom-of-navigation-in-strait-of-hormuz-pompeo-227699">recent attacks on civilian oil tankers</a> in the Middle East, US Secretary of State Mike Pompeo said the United States is considering a 'full range of options' — including a military strike.

"The United States is considering a full range of options. We have briefed the President a couple of times, we'll continue to keep him updated. We are confident that we can take a set of actions that can restore deterrence which is our mission set," Pompeo said in a TV interview.

Pompeo, at the same time, suggested that Washington seeks to prevent the ongoing tension with Iran from escalating any further.

"President Trump has done everything he can to avoid war. We don't want war," he said in another interview with Fox News on the same day.

Gulf of Oman: Saudi Arabia blames tanker attacks on rival Iran 
&nbsp;

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gulf-of-oman-saudi-arabia-blames-tanker-attacks-on-rival-iran-227499/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Pompeo, in a series of Sunday television interviews, emphasized the US international outreach in the wake of what the US says were Iranian attacks Thursday on two oil tankers near the Strait of Hormuz.

Iran has denied being involved in the attacks and accused America of promoting a negative campaign against it.

Last week, two oil tankers — Marshall Islands-flagged Front Altair and the Panama-flagged Kokuka Courageous — were attacked near the Strait of Hormuz.

Shortly after the incident, the United States claimed that Tehran was responsible for the attack, a statement that was denounced by the latter earlier today.

To back its claim, the US released a blurry video which, the country believed, showed the boat crew of Islamic Revolution Guards Corps (IRGC) removing an unexploded mine from one of the tankers shortly after the attack.

The UK, in a statement, said that Iran should be held responsible for the attack on four oil tankers off the port of Fujairah last month.&nbsp;

A third of the world's seaborne oil supply passes through the Strait of Hormuz, a narrow channel bordered to the north by Iran that links the Gulf with the Gulf of Oman.

(With inputs from agencies)

Amid rising tension between the US and Iran over recent attacks on civilian oil tankers in the Middle East, US Secretary of State Mike Pompeo said the United States is considering a 'full range of options' — including a military strike.

Amid rising tension between the US and Iran over recent attacks on civilian oil tankers in the Middle East, US Secretary of State Mike Pompeo said the United States is considering a 'full range of options' — including a military strike. "The United States is considering a full range of options. We have briefed the President a couple of times, we'll continue to keep him updated. We are confident that we can take a set of actions that can restore deterrence which is our mission set," Pompeo said in a TV interview. Pompeo, at the same time, suggested that Washington seeks to prevent the ongoing tension with Iran from escalating any further. "President Trump has done everything he can to avoid war. We don't want war," he said in another interview with Fox News on the same day. Gulf of Oman: Saudi Arabia blames tanker attacks on rival Iran Pompeo, in a series of Sunday television interviews, emphasized the US international outreach in the wake of what the US says were Iranian attacks Thursday on two oil tankers near the Strait of Hormuz. Iran has denied being involved in the attacks and accused America of promoting a negative campaign against it. Last week, two oil tankers — Marshall Islands-flagged Front Altair and the Panama-flagged Kokuka Courageous — were attacked near the Strait of Hormuz. Shortly after the incident, the United States claimed that Tehran was responsible for the attack, a statement that was denounced by the latter earlier today. To back its claim, the US released a blurry video which, the country believed, showed the boat crew of Islamic Revolution Guards Corps (IRGC) removing an unexploded mine from one of the tankers shortly after the attack. The UK, in a statement, said that Iran should be held responsible for the attack on four oil tankers off the port of Fujairah last month. A third of the world's seaborne oil supply passes through the Strait of Hormuz, a narrow channel bordered to the north by Iran that links the Gulf with the Gulf of Oman. (With inputs from agencies)

US weighing 'full range' of options to counter Iran, including a military strike: Mike Pompeo on Iran

Iran said Monday it will surpass from June 27 its <a href="https://www.wionews.com/world/us-weighing-full-range-of-options-to-counter-iran-including-a-military-strike-mike-pompeo-on-iran-227800">uranium stockpile limit set under </a>the nuclear deal with world powers, turning up the pressure after the US walked away from the landmark pact last year.

"Today the countdown to pass the 300 kilogrammes reserve of enriched uranium has started and in 10 days time... we will pass this limit," Iran's atomic energy organisation spokesman Behrouz Kamalvandi said at a press conference broadcast live.

The move "will be reversed once other parties live up to their commitments," he added, speaking from the Arak nuclear plant south-west of Tehran.

On May 8,<a href="https://www.wionews.com/world/iran-to-scale-back-nuclear-deal-commitments-report-227660"> President Hassan Rouhani</a> announced that Iran would stop observing restrictions on its stocks of enriched uranium and heavy water agreed under the 2015 nuclear deal.

He said the move was in retaliation for the unilateral US withdrawal from the accord a year earlier, which saw Washington impose tough economic sanctions on Tehran.

<div class="videoWrapper trancodeVideo"><iframe src="https://www.wionews.com/videos/trump-wont-rule-out-war-with-iran-225052/embed" width="560" height="350" style="width:100%;max-width:560px;" class="includeVideo" frameborder="0" autoplay=1 allowfullscreen></iframe></div>

Tensions between Iran and the United States have escalated ever since, with Washington bolstering its military presence in the region and blacklisting Iran's Revolutionary Guards as a terrorist organisation.

The US has also blamed Iran for last week's attacks on two tankers in the Gulf of Oman, a charge Tehran has denied as "baseless".

Iran has threatened to go even further in scaling down nuclear commitments by July 8 unless remaining partners to the deal -- Britain, China, France, Germany and Russia -- help it circumvent US sanctions and especially enable it to sell its oil.

Under the agreement, Iran pledged to reduce its nuclear capacities for several years and allow international inspectors inside the country to monitor its activities in return for relief from international sanctions.

The deal set a limit on the number of uranium-enriching centrifuges, and restricted its right to enrich uranium to no higher than 3.67 per cent, well below weapons-grade levels of around 90 per cent.

It also called on Iran to export enriched uranium and heavy water to ensure that the country's reserves would stay within the production ceiling set by the agreement, yet recent US restrictions have made such exports virtually impossible.

According to Rouhani, his ultimatum last month was intended to "save the (deal), not destroy it".

The three European parties to the accord created a trade mechanism meant to bypass US sanctions, but their attempt was dismissed by Iran's supreme leader Ayatollah Ali Khamenei as a "bitter joke."

If world powers do not step up to help Iran, the atomic energy organisation spokesman warned further steps could be taken.

"They range from going to 3.68 per cent to any other per cent according to the country's needs," said Kamalvandi.

Authorities are still debating whether to "redesign or revive" the Arak reactor, he added.

Uranium enriched to much higher levels than Iran's current stocks can be used as the fissile core of a nuclear weapon, while heavy water is a source of plutonium, which can be used as an alternative way to produce a warhead.

"A point to Europeans: if the first step took time to be done, other steps, especially increasing enrichment... need no more than a day or two," said Kamalvandi.

Germany has acknowledged the economic benefits Tehran hoped for from the deal were now "more difficult to obtain", but has urged Iran to fully respect the "extraordinarily important" nuclear deal.

Iran said Monday it will surpass from June 27 its uranium stockpile limit set under the nuclear deal with world powers, turning up the pressure after the US walked away from the landmark pact last year.

Iran said Monday it will surpass from June 27 its uranium stockpile limit set under the nuclear deal with world powers, turning up the pressure after the US walked away from the landmark pact last year. "Today the countdown to pass the 300 kilogrammes reserve of enriched uranium has started and in 10 days time... we will pass this limit," Iran's atomic energy organisation spokesman Behrouz Kamalvandi said at a press conference broadcast live. The move "will be reversed once other parties live up to their commitments," he added, speaking from the Arak nuclear plant south-west of Tehran. On May 8, President Hassan Rouhani announced that Iran would stop observing restrictions on its stocks of enriched uranium and heavy water agreed under the 2015 nuclear deal. He said the move was in retaliation for the unilateral US withdrawal from the accord a year earlier, which saw Washington impose tough economic sanctions on Tehran. Tensions between Iran and the United States have escalated ever since, with Washington bolstering its military presence in the region and blacklisting Iran's Revolutionary Guards as a terrorist organisation. The US has also blamed Iran for last week's attacks on two tankers in the Gulf of Oman, a charge Tehran has denied as "baseless". Iran has threatened to go even further in scaling down nuclear commitments by July 8 unless remaining partners to the deal -- Britain, China, France, Germany and Russia -- help it circumvent US sanctions and especially enable it to sell its oil. Under the agreement, Iran pledged to reduce its nuclear capacities for several years and allow international inspectors inside the country to monitor its activities in return for relief from international sanctions. The deal set a limit on the number of uranium-enriching centrifuges, and restricted its right to enrich uranium to no higher than 3.67 per cent, well below weapons-grade levels of around 90 per cent. It also called on Iran to export enriched uranium and heavy water to ensure that the country's reserves would stay within the production ceiling set by the agreement, yet recent US restrictions have made such exports virtually impossible. According to Rouhani, his ultimatum last month was intended to "save the (deal), not destroy it". The three European parties to the accord created a trade mechanism meant to bypass US sanctions, but their attempt was dismissed by Iran's supreme leader Ayatollah Ali Khamenei as a "bitter joke." If world powers do not step up to help Iran, the atomic energy organisation spokesman warned further steps could be taken. "They range from going to 3.68 per cent to any other per cent according to the country's needs," said Kamalvandi. Authorities are still debating whether to "redesign or revive" the Arak reactor, he added. Uranium enriched to much higher levels than Iran's current stocks can be used as the fissile core of a nuclear weapon, while heavy water is a source of plutonium, which can be used as an alternative way to produce a warhead. "A point to Europeans: if the first step took time to be done, other steps, especially increasing enrichment... need no more than a day or two," said Kamalvandi. Germany has acknowledged the economic benefits Tehran hoped for from the deal were now "more difficult to obtain", but has urged Iran to fully respect the "extraordinarily important" nuclear deal.

Will exceed enriched uranium limit in 10 days: Iran

US Secretary of State Mike Pompeo blamed Iran on Sunday for last week's attacks on oil tankers and vowed that the United States will guarantee free passage through the vital <a href="https://www.wionews.com/world/us-commander-says-he-could-send-carrier-into-strait-of-hormuz-despite-iran-tensions-217422">Strait of Hormuz</a>.

Pompeo would not be drawn on what options the US is considering to protect shipping -- or to punish Iran -- in the wake of Thursday's attacks on two tankers in the Gulf of Oman.

"What you should assume is we are going to guarantee freedom of navigation throughout the strait," he said in an interview on "Fox News Sunday."

A third of the world's seaborne oil supply passes through the Strait of Hormuz, a narrow channel bordered to the north by Iran that links the Gulf with the Gulf of Oman.

"This is an international challenge, important to the entire globe. The United States is going to make sure that we take all the actions necessary, diplomatic and otherwise, that achieve that outcome," Pompeo said.

He would not lay out US evidence for Iran's involvement in the Gulf of Oman explosions but insisted, "It's unmistakable what happened here. &nbsp;

"These were attacks by the Islamic Republic of Iran on commercial shipping, on the freedom of navigation, with the clear intent to deny transit through the strait."

US Secretary of State Mike Pompeo blamed Iran on Sunday for last week's attacks on oil tankers and vowed that the United States will guarantee free passage through the vital Strait of Hormuz.

US Secretary of State Mike Pompeo blamed Iran on Sunday for last week's attacks on oil tankers and vowed that the United States will guarantee free passage through the vital Strait of Hormuz. Pompeo would not be drawn on what options the US is considering to protect shipping -- or to punish Iran -- in the wake of Thursday's attacks on two tankers in the Gulf of Oman. "What you should assume is we are going to guarantee freedom of navigation throughout the strait," he said in an interview on "Fox News Sunday." A third of the world's seaborne oil supply passes through the Strait of Hormuz, a narrow channel bordered to the north by Iran that links the Gulf with the Gulf of Oman. "This is an international challenge, important to the entire globe. The United States is going to make sure that we take all the actions necessary, diplomatic and otherwise, that achieve that outcome," Pompeo said. He would not lay out US evidence for Iran's involvement in the Gulf of Oman explosions but insisted, "It's unmistakable what happened here. "These were attacks by the Islamic Republic of Iran on commercial shipping, on the freedom of navigation, with the clear intent to deny transit through the strait."

Will make sure to guarantee freedom of navigation in Strait of Hormuz: Pompeo

West Asia Is On The Edge. US-Iran Tensions Soar After The Explosion Of 2 Oil Tankers In The Gulf Of Oman. Explosion In 2 More Oil Tankers In The Gulf Of Oman. US Blames Iran As Tensions Soar. Iran Hits Back At The US, Says Iran Is Being Blamed Without A Shred Of Factual Evidence.

Gravitas: US Blames Iran For Thursday's Attacks

Iran on Tuesday freed a Lebanese national arrested in 2015 and sentenced to 10 years in jail on charges of spying for Washington, Lebanon's security services said Tuesday.

"General Security chief Abbas Ibrahim en route from Tehran to Lebanon, accompanied by Nizar Zakka, after his release by Iranian authorities," the security service said in a statement posted on social media.

It also posted a picture of Ibrahim and Zakka aboard what appeared to be a private aircraft.&nbsp;

Both are due to meet President Michel Aoun at the presidential palace near Beirut shortly after arrival, the statement said.&nbsp;

The news comes hours after Iran's judiciary said it had approved Zakka's release.

"The relevant court has agreed to Nizar Zakka's conditional release and he will be handed over to Lebanese authorities," its Mizan Online website quoted spokesman Gholamhossein Esmaili as saying.

"According to the law, those who are sentenced to up to 10 years in jail, if they have served at least one-third of their sentence and shown good behaviour" can be released conditionally.

According to Esmaili, Aoun had requested Zakka's release "in writing" and Iran's Lebanese ally Hezbollah had said it would be "expedient".

"This is an absolutely judicial procedure and no political issue has been involved," Esmaili was quoted by Iran's Tasnim news agency as saying.

A resident of the United States in his 50s, Zakka was arrested in September 2015 during a visit to Iran, where he was convicted the following July.

At the time of his arrest, Iranian state television said he was accused of "deep ties to the military and intelligence services of the United States".

It broadcast photographs of a man in military uniform it said was of Zakka at a US base.

At the end of 2017, Iranian appeal courts upheld his 10-year jail sentence as well as those of an American and two Iranian-Americans accused of "collaboration" with the United States.

Iran and the United States broke diplomatic ties in 1980 in the aftermath of the Islamic revolution. Relations have deteriorated sharply since US President Donald Trump took office in January 2017.

Iran on Tuesday freed a Lebanese national arrested in 2015 and sentenced to 10 years in jail on charges of spying for Washington, Lebanon's security services said Tuesday.

Iran on Tuesday freed a Lebanese national arrested in 2015 and sentenced to 10 years in jail on charges of spying for Washington, Lebanon's security services said Tuesday. "General Security chief Abbas Ibrahim en route from Tehran to Lebanon, accompanied by Nizar Zakka, after his release by Iranian authorities," the security service said in a statement posted on social media. It also posted a picture of Ibrahim and Zakka aboard what appeared to be a private aircraft. Both are due to meet President Michel Aoun at the presidential palace near Beirut shortly after arrival, the statement said. The news comes hours after Iran's judiciary said it had approved Zakka's release. "The relevant court has agreed to Nizar Zakka's conditional release and he will be handed over to Lebanese authorities," its Mizan Online website quoted spokesman Gholamhossein Esmaili as saying. "According to the law, those who are sentenced to up to 10 years in jail, if they have served at least one-third of their sentence and shown good behaviour" can be released conditionally. According to Esmaili, Aoun had requested Zakka's release "in writing" and Iran's Lebanese ally Hezbollah had said it would be "expedient". "This is an absolutely judicial procedure and no political issue has been involved," Esmaili was quoted by Iran's Tasnim news agency as saying. A resident of the United States in his 50s, Zakka was arrested in September 2015 during a visit to Iran, where he was convicted the following July. At the time of his arrest, Iranian state television said he was accused of "deep ties to the military and intelligence services of the United States". It broadcast photographs of a man in military uniform it said was of Zakka at a US base. At the end of 2017, Iranian appeal courts upheld his 10-year jail sentence as well as those of an American and two Iranian-Americans accused of "collaboration" with the United States. Iran and the United States broke diplomatic ties in 1980 in the aftermath of the Islamic revolution. Relations have deteriorated sharply since US President Donald Trump took office in January 2017.

Iran frees Lebanese national convicted of spying for US

Iran's foreign minister warned Monday of the consequences of waging <a href="https://www.wionews.com/world/uns-nuclear-watchdog-iaea-worried-about-increasing-tensions-over-iran-nuclear-issue-225958">"economic war" against the Islamic republic</a> through US sanctions, saying those conducting and supporting it could not expect to "remain safe".

"One cannot expect an economic war to continue against the Iranian people and that those waging this war and those supporting it remain safe," Mohammad Javad Zarif said at a joint news conference in Tehran with his <a href="https://www.wionews.com/world/german-minister-lands-in-iran-in-bid-to-save-nuclear-pact-225867">German counterpart Heiko Maas</a>.

"The only way to decrease tensions in the region is to stop the economic war," he added, noting Germany and the European Union could have an "important role" to play in defusing the situation.

Iran signed a landmark nuclear accord with Britain, China, France, Germany, Russia and the United States in 2015, leading to sanctions relief in exchange for curbs on its nuclear programme.

But the US administration of President Donald Trump has imposed sweeping sanctions on Iran and, according to Tehran, waged an "economic war" against it after walking away from the deal.

Germany's visiting foreign minister said his country would do its utmost to ensure tensions do not escalate.

"There is war in Syria and in Yemen, fortunately not here," Maas said. "We want to do everything we can to keep it that way" for Iran.

"Nevertheless, the tensions here in the region are worrying, and we fear that single events can trigger developments that end in violence, and we want to prevent this under all circumstances."

Maas met Zarif in Tehran, and both said they discussed the future of the nuclear pact and regional issues, although their news conference appeared tense and they appeared to agree on little.

"We had a serious, frank and rather long discussion," Zarif said.

Ahead of their meeting, Maas acknowledged the economic benefits Tehran hoped for from the deal were now "more difficult to obtain" but urged Iran to fully respect the deal.

It was in Iran's "political and strategic interest to maintain this agreement and the dialogue with Europe", he said.

'No miracles'

The nuclear deal, Maas said, is "extraordinarily important" for Europe's security and they "have made the greatest effort to meet (their) commitments."

"We will not work miracles. But we are doing all we can to prevent a failure."

But Iran begged to differ.

"What the Europeans must do, and have done has so far, has not satisfied" our interests, foreign ministry spokesman Abbas Mousavi said.

The US sanctions reimposed last year targeted crucial parts of Iran's economy, especially the oil and banking sectors.

"The summary of Maas' remarks: we are nothing without America and are not capable of doing anything, do not expect much from us," Abdollah Ganji, the managing director of ultra-conservative Javan daily, wrote mockingly on Telegram after the ministers' meeting.

The oil embargo has hurt Iran's main supply of foreign revenues, while the banking sanctions have scared away foreign investors and made money transfers through official channels nearly impossible for businesses.

Europe tried to respond to the US withdrawal by setting up a special trade mechanism called INSTEX that would allow legitimate trade with Iran to continue without falling foul of US sanctions, but it has yet to become operational.

Iran has given Europe, China and Russia until July "to make their commitments operational".

Otherwise, Tehran said it would stop complying with the nuclear deal's uranium enrichment restrictions and resume building a heavy-water reactor at Arak that was shut down as part of the deal.

Rising tensions

The Gulf has been tense for about a month over increased strain between Iran and the United States on one hand and the Islamic Republic and US allies like Saudi Arabia on the other.

The tensions worsened after the US military announced it was dispatching reinforcements to the Middle East in response to alleged "Iranian threats" as well as the sabotage of four ships at the entrance to the Gulf on May 12.

Washington and Riyadh have accused Tehran of being behind those attacks, a charge it has dismissed as "laughable".

An international investigation found a "state actor" was likely to have been responsible for the attacks.

The UN's International Atomic Energy Agency, said Monday it was "worried about increasing tensions" over Iran's nuclear programme.

IAEA chief Yukiya Amano also said Iran's "production rate (of uranium) is increasing", although he was unable to give an exact figure.

Israeli Prime Minister Benjamin Netanyahu referred to the IAEA's assessment in a statement later, saying his country "will not allow Iran to develop nuclear weapons that threaten our existence and endanger the entire world".

Iran's foreign minister warned Monday of the consequences of waging "economic war" against the Islamic republic through US sanctions, saying those conducting and supporting it could not expect to "remain safe".

Iran's foreign minister warned Monday of the consequences of waging "economic war" against the Islamic republic through US sanctions, saying those conducting and supporting it could not expect to "remain safe". "One cannot expect an economic war to continue against the Iranian people and that those waging this war and those supporting it remain safe," Mohammad Javad Zarif said at a joint news conference in Tehran with his German counterpart Heiko Maas. "The only way to decrease tensions in the region is to stop the economic war," he added, noting Germany and the European Union could have an "important role" to play in defusing the situation. Iran signed a landmark nuclear accord with Britain, China, France, Germany, Russia and the United States in 2015, leading to sanctions relief in exchange for curbs on its nuclear programme. But the US administration of President Donald Trump has imposed sweeping sanctions on Iran and, according to Tehran, waged an "economic war" against it after walking away from the deal. Germany's visiting foreign minister said his country would do its utmost to ensure tensions do not escalate. "There is war in Syria and in Yemen, fortunately not here," Maas said. "We want to do everything we can to keep it that way" for Iran. "Nevertheless, the tensions here in the region are worrying, and we fear that single events can trigger developments that end in violence, and we want to prevent this under all circumstances." Maas met Zarif in Tehran, and both said they discussed the future of the nuclear pact and regional issues, although their news conference appeared tense and they appeared to agree on little. "We had a serious, frank and rather long discussion," Zarif said. Ahead of their meeting, Maas acknowledged the economic benefits Tehran hoped for from the deal were now "more difficult to obtain" but urged Iran to fully respect the deal. It was in Iran's "political and strategic interest to maintain this agreement and the dialogue with Europe", he said. 'No miracles' The nuclear deal, Maas said, is "extraordinarily important" for Europe's security and they "have made the greatest effort to meet (their) commitments." "We will not work miracles. But we are doing all we can to prevent a failure." But Iran begged to differ. "What the Europeans must do, and have done has so far, has not satisfied" our interests, foreign ministry spokesman Abbas Mousavi said. The US sanctions reimposed last year targeted crucial parts of Iran's economy, especially the oil and banking sectors. "The summary of Maas' remarks: we are nothing without America and are not capable of doing anything, do not expect much from us," Abdollah Ganji, the managing director of ultra-conservative Javan daily, wrote mockingly on Telegram after the ministers' meeting. The oil embargo has hurt Iran's main supply of foreign revenues, while the banking sanctions have scared away foreign investors and made money transfers through official channels nearly impossible for businesses. Europe tried to respond to the US withdrawal by setting up a special trade mechanism called INSTEX that would allow legitimate trade with Iran to continue without falling foul of US sanctions, but it has yet to become operational. Iran has given Europe, China and Russia until July "to make their commitments operational". Otherwise, Tehran said it would stop complying with the nuclear deal's uranium enrichment restrictions and resume building a heavy-water reactor at Arak that was shut down as part of the deal. Rising tensions The Gulf has been tense for about a month over increased strain between Iran and the United States on one hand and the Islamic Republic and US allies like Saudi Arabia on the other. The tensions worsened after the US military announced it was dispatching reinforcements to the Middle East in response to alleged "Iranian threats" as well as the sabotage of four ships at the entrance to the Gulf on May 12. Washington and Riyadh have accused Tehran of being behind those attacks, a charge it has dismissed as "laughable". An international investigation found a "state actor" was likely to have been responsible for the attacks. The UN's International Atomic Energy Agency, said Monday it was "worried about increasing tensions" over Iran's nuclear programme. IAEA chief Yukiya Amano also said Iran's "production rate (of uranium) is increasing", although he was unable to give an exact figure. Israeli Prime Minister Benjamin Netanyahu referred to the IAEA's assessment in a statement later, saying his country "will not allow Iran to develop nuclear weapons that threaten our existence and endanger the entire world".

Iran warns over 'economic war' waged through US sanctions

Iran said on Sunday Europe was in no position to criticise Tehran for its military capabilities and it called on European leaders to normalise trade ties with the Islamic Republic despite US sanctions, or face consequences.

President Donald Trump last year withdrew the United States from world powers' 2015 nuclear deal with Iran and reimposed sweeping sanctions. Trump condemned the accord, signed by his predecessor Barack Obama, as flawed for not being permanent and for not covering Iran’s ballistic missile programme or its role in conflicts around the Middle East.

The west European signatories to the deal - France, Britain and Germany - share the same concerns as the United States over Iran’s ballistic missile development and regional activities.

However, they have defended the nuclear accord as the best way to limit Iran’s enrichment of uranium, a potential pathway to nuclear weapons, and a basis for future negotiations on a broader palette of security and other longstanding disputes.

"Europeans are not in a position to criticise Iran for issues outside the JCPOA," Foreign Minister Mohammad Javad Zarif was quoted as saying by the state broadcaster, using the acronym for the nuclear deal.

"The Europeans and other signatories of the JCPOA should normalise economic ties with Iran...We will halt our commitments or will take action in accordance with their measures."

Last month, Iran scaled back some commitments under the 2015 deal and warned that in 60 days it would resume enriching uranium to a higher degree than that permitted by the accord if the Europeans failed to shield it against the US sanctions, which aim to cripple its oil-dependent economy.

German Foreign Minister Heiko Maas will visit Iran this week to explore options for preserving the fraying nuclear non-proliferation pact.

Iranian Parliament Speaker Ali Larijani on Sunday criticised French President Emmanuel Macron for saying last week in a meeting with Trump that they shared the same objectives on Iran.

Macron said France wanted to make sure Tehran will not get nuclear weapons: "We had an accord until 2025 and we want to go further and have full certainty in the long run... (Then) reduce ballistic activity and contain Iran regionally."

Larijani was quoted as saying by state media: "The recent remarks by the French president in a meeting with Trump were shameful and inept...Macron's comments did not match what he has been telling our president...in their meetings and on the phone."

Iran insists its nuclear activities are entirely peaceful and has repeatedly refused to discuss its missile programme.

Tehran unveiled on Sunday a new "domestically-produced" air defence system with the capability to trace six targets - including fighetr jets, bombers and drones at the same time and destroy them with missiles.

"Iran will increase its military capabilities to protect its national security and interests, and it will not ask permission from anyone on this matter," Defence Minister Amir Hatami said at an unveiling ceremony for the system.

Iran said on Sunday Europe was in no position to criticise Tehran for its military capabilities and it called on European leaders to normalise trade ties with the Islamic Republic despite US sanctions, or face consequences.

Iran said on Sunday Europe was in no position to criticise Tehran for its military capabilities and it called on European leaders to normalise trade ties with the Islamic Republic despite US sanctions, or face consequences. President Donald Trump last year withdrew the United States from world powers' 2015 nuclear deal with Iran and reimposed sweeping sanctions. Trump condemned the accord, signed by his predecessor Barack Obama, as flawed for not being permanent and for not covering Iran’s ballistic missile programme or its role in conflicts around the Middle East. The west European signatories to the deal - France, Britain and Germany - share the same concerns as the United States over Iran’s ballistic missile development and regional activities. However, they have defended the nuclear accord as the best way to limit Iran’s enrichment of uranium, a potential pathway to nuclear weapons, and a basis for future negotiations on a broader palette of security and other longstanding disputes. "Europeans are not in a position to criticise Iran for issues outside the JCPOA," Foreign Minister Mohammad Javad Zarif was quoted as saying by the state broadcaster, using the acronym for the nuclear deal. "The Europeans and other signatories of the JCPOA should normalise economic ties with Iran...We will halt our commitments or will take action in accordance with their measures." Last month, Iran scaled back some commitments under the 2015 deal and warned that in 60 days it would resume enriching uranium to a higher degree than that permitted by the accord if the Europeans failed to shield it against the US sanctions, which aim to cripple its oil-dependent economy. German Foreign Minister Heiko Maas will visit Iran this week to explore options for preserving the fraying nuclear non-proliferation pact. Iranian Parliament Speaker Ali Larijani on Sunday criticised French President Emmanuel Macron for saying last week in a meeting with Trump that they shared the same objectives on Iran. Macron said France wanted to make sure Tehran will not get nuclear weapons: "We had an accord until 2025 and we want to go further and have full certainty in the long run... (Then) reduce ballistic activity and contain Iran regionally." Larijani was quoted as saying by state media: "The recent remarks by the French president in a meeting with Trump were shameful and inept...Macron's comments did not match what he has been telling our president...in their meetings and on the phone." Iran insists its nuclear activities are entirely peaceful and has repeatedly refused to discuss its missile programme. Tehran unveiled on Sunday a new "domestically-produced" air defence system with the capability to trace six targets - including fighetr jets, bombers and drones at the same time and destroy them with missiles. "Iran will increase its military capabilities to protect its national security and interests, and it will not ask permission from anyone on this matter," Defence Minister Amir Hatami said at an unveiling ceremony for the system.

Europe in no position to criticise Iran for issues outside JCPOA: Foreign Minister Javad Zarif

Iran is keeping up oil sales through "unconventional" means to circumvent US sanctions, Oil Minister Bijan Namdar Zanganeh said in an interview published Saturday.

"We have unofficial or unconventional sales, all of which are secret, because if they are made known America would immediately stop them," he said, quoted by the oil ministry's SHANA news agency.

Zanganeh declined to give details on Iran's oil exports, saying he would not disclose figures until sanctions were lifted.

In May 2018, Washington withdrew from Iran's 2015 nuclear deal with world powers that granted Tehran sanctions relief in exchange for curbs on its atomic programme.

Washington reimposed oil sanctions on Iran last November, but initially gave eight countries, including several allies such as China, six-month waivers.

Iran's oil shipments tumbled to 750,000 barrels per day in April compared to 1.5 million in October, according to data compiled by Bloomberg.

The White House in May ended all the waivers as part of a "maximum pressure" campaign against Tehran.

According to Zanganeh, the US has reached an "evil maturity" in tightening the noose on Iran's economy using "smart sanctions".

"The most severe organised sanctions in history are currently being imposed on Iran," he said.

Iran is keeping up oil sales through "unconventional" means to circumvent US sanctions, Oil Minister Bijan Namdar Zanganeh said in an interview published Saturday.

Iran is keeping up oil sales through "unconventional" means to circumvent US sanctions, Oil Minister Bijan Namdar Zanganeh said in an interview published Saturday. "We have unofficial or unconventional sales, all of which are secret, because if they are made known America would immediately stop them," he said, quoted by the oil ministry's SHANA news agency. Zanganeh declined to give details on Iran's oil exports, saying he would not disclose figures until sanctions were lifted. In May 2018, Washington withdrew from Iran's 2015 nuclear deal with world powers that granted Tehran sanctions relief in exchange for curbs on its atomic programme. Washington reimposed oil sanctions on Iran last November, but initially gave eight countries, including several allies such as China, six-month waivers. Iran's oil shipments tumbled to 750,000 barrels per day in April compared to 1.5 million in October, according to data compiled by Bloomberg. The White House in May ended all the waivers as part of a "maximum pressure" campaign against Tehran. According to Zanganeh, the US has reached an "evil maturity" in tightening the noose on Iran's economy using "smart sanctions". "The most severe organised sanctions in history are currently being imposed on Iran," he said.

Iran says selling oil through 'unconventional' means

The United States on Friday hit Iran's petrochemical group PGPIC with economic sanctions due to its ties with the country's <a href="https://www.wionews.com/world/iran-rejects-french-call-for-wider-talks-beyond-nuclear-deal-report-225256">Revolutionary Guards</a> (IRGC), the Treasury Department announced.

The move aims to choke off financing to the country's largest and most profitable petrochemical group and extends to its 39 subsidiaries and "foreign-based sales agents," the Treasury Department said in a statement.

"This action is a warning that we will continue to target holding groups and companies in the petrochemical sector and elsewhere that provide financial lifelines to the IRGC," Treasury Secretary Steven Mnuchin said in the statement.

Treasury warned that international companies continuing to partner with PGPIC or subsidiaries and sales agents "will themselves be exposed to US sanctions."

The <a href="https://www.wionews.com/world/japanese-prime-minister-abe-set-for-mediation-mission-to-iran-224969">US efforts over the past year to choke off Iran's economy</a>, following President Donald Trump's decision to abandon the 2015 nuclear deal negotiated by his predecessor, has angered allies as foreign companies get caught up in the dispute.

Treasury said it is penalizing PGPIC due to its links to the economic arm of the IRGC, known as Khatam al-Anbiya.

The sanctions prohibit the firm and its subsidiaries from accessing the US market or financial system, including through other foreign companies, and blocks all funds or property that is in the United States or held by a US firm.

"By targeting this network we intend to deny funding to key elements of Iran's petrochemical sector that provide support to the IRGC," Mnuchin said.

The PGPIC group holds 40 per cent of Iran's total petrochemical production capacity and is responsible for 50 per cent of the country's petrochemical exports, Treasury said.

The United States on Friday hit Iran's petrochemical group PGPIC with economic sanctions due to its ties with the country's Revolutionary Guards (IRGC), the Treasury Department announced.

The United States on Friday hit Iran's petrochemical group PGPIC with economic sanctions due to its ties with the country's Revolutionary Guards (IRGC), the Treasury Department announced. The move aims to choke off financing to the country's largest and most profitable petrochemical group and extends to its 39 subsidiaries and "foreign-based sales agents," the Treasury Department said in a statement. "This action is a warning that we will continue to target holding groups and companies in the petrochemical sector and elsewhere that provide financial lifelines to the IRGC," Treasury Secretary Steven Mnuchin said in the statement. Treasury warned that international companies continuing to partner with PGPIC or subsidiaries and sales agents "will themselves be exposed to US sanctions." The US efforts over the past year to choke off Iran's economy, following President Donald Trump's decision to abandon the 2015 nuclear deal negotiated by his predecessor, has angered allies as foreign companies get caught up in the dispute. Treasury said it is penalizing PGPIC due to its links to the economic arm of the IRGC, known as Khatam al-Anbiya. The sanctions prohibit the firm and its subsidiaries from accessing the US market or financial system, including through other foreign companies, and blocks all funds or property that is in the United States or held by a US firm. "By targeting this network we intend to deny funding to key elements of Iran's petrochemical sector that provide support to the IRGC," Mnuchin said. The PGPIC group holds 40 per cent of Iran's total petrochemical production capacity and is responsible for 50 per cent of the country's petrochemical exports, Treasury said.

US hits Iran petrochemical group PGPIC with sanctions

us-iran-0

Us Iran, News on Us Iran, stories on Us Iran, articles on Us Iran, Us Iran stories at Wion, Us Iran news, Us Iran latest news

us iran-0