CAIRO, Nov 5 (SEE)- The United States re-imposed sanctions against Iranian oil on Monday while giving some of Washington's closest allies exemptions that allow Tehran's biggest customers, mostly in Asia, to keep buying crude for now.
For its part, Iran greeted the re-imposition of US sanctions with air defense drills and an acknowledgement from President Hassan Rouhani the nation is under a "war situation".
The sanctions end all the economic benefits Washington granted Tehran after signing the 2015 nuclear deal, known as P5+1, though Iran for now continues to abide by the accord that saw it limit its enrichment of uranium.
The new US sanctions target harming Iran's vital oil industry, a crucial source of hard currency for its economy.
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Iran's President Hassan Rouhani speaks at a news conference on the sidelines of the 73rd session of the United Nations General Assembly at U.N. headquarters in New York, U.S., September 26, 2018. REUTERS/Brendan Mcdermid /File Photo[/caption]
"Today, Iran is able to sell its oil and it will sell," Rouhani vowed Monday as the sanctions kicked in.
"We are under a war situation," Rouhani said. "We are facing economic war situation. We are confronting a bullying enemy. We have to stand to win."
Rouhani rhetorically compared Iran's situation in the 1980s war against Iraq's Saddam Hussein with the current one and President Donald Trump's move to reinstate US sanctions.
"Yesterday, Saddam was in front of us, today Trump is front of us. There is no difference. We must resist and win," he said.
Israel Welcomes US Sanctions' Re-imposition
Israel's Defense Minister Avigdor Lieberman welcomed the newly restored U.S. sanctions in a tweet on Monday, saying they will deal a "critical blow" to Iran's military presence around the Middle East.
"The Trump administration's decision to restore sanctions is a change the Middle East has been waiting for," he said.
Israel has been a fierce opponent of the 2015 nuclear deal from which the U.S. withdrew in May, saying the accord failed to rein in Iran's regional military threat.
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Israeli Defense Minister Avigdor Lieberman (Reuters/File Photo)[/caption]
Europeans regret US decision
The European Union, France, Germany and Britain said in a joint statement that they regretted the U.S. decision and would seek to protect European companies doing legitimate business with Tehran.
In October, European diplomats told Reuters that a new EU mechanism to facilitate payments for Iranian oil exports should be legally in place by Nov. 4 but not operational until early next year.
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