Germany warns United States sanctions on Iran could 'boost radical forces'

Germany warns United States sanctions on Iran could 'boost radical forces'

Germany warns United States sanctions on Iran could 'boost radical forces'

On Tuesday, the U.S. reinstated sanctions targeting the Iranian government's purchase of U.S. dollars, Iran's trade in gold and other precious metals, and its automotive sector.

Iranian Foreign Minister Mohammad Javad Zarif said on Wednesday that a USA plan to reduce Iran's oil exports to zero will not succeed, according to the Iran state newspaper.

In this photo released by an official website of the office of the Iranian Presidency, President Hassan Rouhani, right, greets North Korean Foreign Minister Ri Yong Ho at the start of their meeting, at the presidency office, in Tehran, Iran, Wednesday, Aug. 8, 2018.

In addition, the Trump administration has sanctioned 38 Iran-related targets. They target US dollar financial transactions, Iran's automotive sector and the purchase of commercial planes and metals, including gold.

Within hours of the sanctions taking effect, German carmaker Daimler said it had "suspended our already limited activities in Iran in accordance with the applicable sanctions".

"China's commercial cooperation with Iran is open and transparent, reasonable, fair and lawful, not violating any United Nations Security Council resolutions", it added.

China, Iran's top oil customer, buys roughly 650,000 barrels a day of crude oil from Tehran, or seven percent of China's total crude oil imports.

Iran's markets were actually relatively buoyant, with the rial strengthening by 20 per cent since Sunday after the government relaxed foreign exchange rules and allowed unlimited, tax-free gold and currency imports.

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The DPRK foreign minister in response reiterated the praise for the two countries' longstanding relationship and agreed with the Iranian President's calls for strengthening ties.

State energy firms CNPC and Sinopec have invested billions of dollars in key Iranian oil fields such as Yadavaran and North Azadegan and have been sending oil to China.

Donald Trump also firmly stated that those nations that disobey and continue trade with Iran after the November 4 deadline will "not be doing business with the United States".

Iran has denounced as "U.S. unilateralism" the reimposition of sanctions in line with Trump's decision to pull out of the agreement over Iran's nuclear program.

However, a senior United States official said it was "not particularly concerned" by the move because many major firms had already announced they were pulling out of Iran.

In an unprecedented measure, the USA is punishing countries for abiding by a Security Council resolution, says Iran's UN Ambassador Gholamali Khoshroo.

His visit to Iran is the first by a high-ranking DPRK delegation since August previous year, when President of the Presidium of the Supreme People's Assembly Kim Yong Nam and vice foreign minister Choe Hui Chol spent several days in the country.

"I feel like my life is being destroyed", said one construction worker on the streets of the capital.

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