Pompeo talks up Iran sanctions ahead of midterm elections

Khamenei was speaking on the eve of the anniversary of the 1979 takeover of the US embassy in Tehran

The European Union also said it is opposed to the U.S. decision, under which the second batch of sanctions targeting Iran's oil and financial sectors were put into effect.

Secretary of State Mike Pompeo is defending the Trump administration's reimposition of sanctions against Iran from conservative critics who argue more should be done to isolate the country.

The US measures were imposed on Monday after the Trump administration pulled out of the Iran nuclear deal earlier this year.

China's Foreign Ministry spokeswoman Hua Chunying said the Asian giant's lawful trade cooperation with Iran should be respected and expressed regret about the U.S. reimposing sanctions on Tehran.

Sunday's (November 4) demonstration comes as Washington prepares to restore sanctions lifted under the 2015 nuclear deal.

Iran's biggest oil customers - all in Asia - have been seeking waivers to sanctions to allow them to continue buying some of the Islamic Republic's oil.

France, Germany, Britain, and the European Union issued a joint condemnation Friday of the United States move, vowing to protect European companies doing "legitimate" business with Tehran. "But America's plots and its plans for sanctions will be defeated through continued resistance", said Jafari.

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Among events held on the embassy anniversary was a cartoon exhibit called "Donald Salman" - a reference to the close ties between the US President and King Salman, ruler of Iran's arch-rival for regional predominance, Saudi Arabia.

The new sanctions will particularly hurt Iran's oil industry, a crucial source of money for its anaemic economy. The US withdrawal from the nuclear deal has already had a huge effect, including the devaluing of the Iranian rial and oil exports falling by about a million barrels a day.

The European Union is not one of the recipients, according to Pompeo who said those who receive waivers "have made important moves towards getting to zero crude oil importation".

The US reinstated a raft of sanctions in August, but analysts say this latest round is by far the most significant.

"On Monday, November 5, the termination of US participation in the Iran nuclear deal will be complete".

Mr Pompeo added oil exports have fallen to nearly one million barrel a day, despite it being the biggest income for Iran. Sputnik discussed the sanctions' implications for Tehran with Iranian economic experts.

However, Iran's clerical rulers have dismissed concerns about the impact of sanctions on the country's economy.

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Iran's president has said his country will "proudly bypass" Donald Trump's "illegal" and "unjust" sanctions by selling oil.

And in recent days US Treasury Secretary Steven Mnuchin said the US would "aggressively" target any firm or organisation "evading our sanctions".

"We'll see what happens with Iran".

Iranian army Gen. Habibillah Sayyari said both the national army and the country's paramilitary Revolutionary Guard were taking part in the exercise.

The 444-day crisis after the fall of the USA -allied shah transfixed America, as nightly images of blindfolded hostages played on television sets across the nation.

"Watch what we do" on China and Russia, Mr. Pompeo said during an interview on Fox News Sunday.

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