Rouhani: Plot to isolate Iran carries heavy cost for US

Rouhani: Plot to isolate Iran carries heavy cost for US

Brian Hook, who is leading negotiations with U.S. allies on a new Iran strategy said on Monday: "Our focus is on getting as many countries importing Iranian crude down to zero as soon as possible".

Last month the United States urged fellow Security Council members to punish Iran for "malign behaviour" in the Middle East.

Rouhani said the new USA pressure would never succeed.

Mohammad Javad Zarif, the Iranian foreign minister, is due to meet counterparts from Britain, France and Germany, as well as Russian Federation and China, in the Austrian capital to flesh out the guarantees that Iran seeks.

Iranian officials in the past have threatened to block the Strait of Hormuz, a major oil shipping route, in retaliation for any hostile USA action against Iran. A third of all oil traded by sea passes through the strait and the U.S. Navy regularly has direct, tense encounters with Iran's paramilitary Revolutionary Guard there.

After ripping up the Iran nuclear deal in May, the Trump Administration is fanning out across the globe to rally support for a return to economy-crippling sanctions against Tehran.

"I don't think the State Department would have the confidence to say "zero exports" if they didn't have China on board", said Sara Vakhshouri, a veteran of the Iranian state oil company now at SVB Energy International, an energy consultancy.

The five other powers have all said they still support the deal despite the USA decision to withdraw. A more rigorous set of sanctions on oil and transactions with the central bank of Iran will come into effect November 6.

When asked at a news conference in Bern later on Tuesday whether those comments constituted a threat to interfere with the shipping of neighboring countries, Rouhani said: "Assuming that Iran could become the only oil producer unable to export its oil is a wrong assumption".

The Trump administration's announced intention of reimposing sanctions on Iran has sparked concern about rising oil prices.

Rouhani further said that "this situation makes the United States confrontation with Iran very costly, and that the Islamic Republic of Iran, too, is determined to negate the Americans' plots as it always has, since their positions are illogical, illegal, tyrannical, and against worldwide commitments and the UN Security Council's resolutions".

"Our focus is on getting as many countries importing Iranian crude down to zero as soon as possible". On Friday, the top diplomats from Britain, France, Germany, as well as China and Russian Federation will join Iranian Foreign Minister Mohammad Javad Zarif in Vienna to discuss a "European incentive package and the solutions to preserve Iran nuclear deal after U.S. illegal action to withdraw", according to Iran's state-run news.

The White House said on Saturday that Saudi Arabia's King Salman had promised Trump that he can raise oil production if needed, and that Riyadh has 2 million barrels per day of spare capacity.

And the move to take Iranian barrels off the market isn't the only thing that could send oil prices higher: Venezuelan oil production continues to decline, and Libya's ability to sustain even limited oil exports is in question given political turmoil in the country. The kingdom now produces some 10 million barrels of crude daily.

Related Articles

  • German interior minister offers to resign amid migration disputes with Merkel

    German interior minister offers to resign amid migration disputes with Merkel

    German politicians who criticized the agreement say Merkel and her conservatives had abandoned the country's moral mission. Merkel's Christian Democratic Union (CDU) since the founding of the Federal Republic, was unprecedented in its ferocity.
    Capital Gazette suspect allegedly mailed threatening letters before Thursday's shooting

    Capital Gazette suspect allegedly mailed threatening letters before Thursday's shooting

    In a later interview appearing on the paper's online site, Davis likened the newspaper office to a "war zone". Friday morning's edition featured in-depth coverage of the shooting and obituaries of the five people killed.
    Dan Gilbert wants LeBron James to leave Cavs

    Dan Gilbert wants LeBron James to leave Cavs

    Photos posted to social media showed him at the airport with his luggage waiting to get into an SUV, CBS Los Angeles reports . LeBron James was spotted by AIR7 HD landing at Van Nuys Airport on Saturday after a long flight from the Caribbean.
  • India beat England by eight wickets in opening T20

    India beat England by eight wickets in opening T20

    Earlier, Kuldeep left the English batsmen in a daze with his magical spell of wrist spin, restricting them to a manageable total. Joe Root , a player of touch and timing, is a top order player too and is unsuited to batting down at number six as he did here.
    United States  has plan to dismantle North Korea nuclear program in year

    United States has plan to dismantle North Korea nuclear program in year

    Asia expert Patrick Cronin called the NBC and Washington Post reports "extremely worrisome". The official was not authorized to comment publicly on the matter and requested anonymity.
    Trump tweet on Harley-Davidson move after tariff, European Union  trade fight

    Trump tweet on Harley-Davidson move after tariff, European Union trade fight

    Rising trade tensions and retaliatory tariffs could pose serious risks for Harley-Davidson, rating agency Moody's said on Tuesday. On Tuesday, Trump tweeted about two earlier decisions Harley made to open the new plant in Thailand and close one in Missouri.
  • Malaysia’s Najib Razak charged with corruption

    Malaysia’s Najib Razak charged with corruption

    Red Granite agreed in March to pay the US government $60 million to settle claims it benefited from the 1MDB scandal. The US Department of Justice (DOJ) began investigating 1MDB, saying $4.5bn had been diverted.
    Neymar Had His Ankle Stepped On, Then Stepped on Mexico's Throat

    Neymar Had His Ankle Stepped On, Then Stepped on Mexico's Throat

    Brazil's match victor Neymar clearly thinks Mexico players "talked too much" before their round of 16 defeat on Monday afternoon. Neymar , who was given the lowest score by users of the BBC Player Rater , said the Brazilian players "have to learn to suffer".
    Belgium pips England to top spot in WCup Group G

    Belgium pips England to top spot in WCup Group G

    Were they to make it all the way through to the final, captain Harry Kane and his teammates would have four more matches to play. Finding space in the box, the 23-year-old cut in and fired the ball past England goalkeeper Jordan Pickford with his left boot.
  • Bolton says he raised US election meddling with Putin

    Bolton says he raised US election meddling with Putin

    This would be Mr Trump's first summit with Mr Putin, even though the leaders have met twice in the last one and half year. The July 16 US-Russia summit in Helsinki could reset a relationship dogged by decades of risky rivalry.
    India look to kick off English summer on winning note

    India look to kick off English summer on winning note

    The spinners' Yuzvendra Chahal and Kuldeep Yadav have picked up 3 wickets each and destroyed the opposition batting line-up. Perhaps it was a marker of this crucial impending assignment that India chose to stay on and practice in London on Monday.

    Croatia top group after last minute winner against Iceland

    Just before the break, a drive by Alfred Finnbogasson whistled past the post. Then on 90 minutes, Perisic delivered the final blow.