United States sanctions: SWIFT network suspends Iran banks

US motorists will not welcome any price rise at the pump

The US move restores sanctions lifted under a 2015 nuclear deal negotiated by the administration of President Barack Obama and five other world powers. "The US-& not Iran-is isolated".

"U.S. sanctions on Iran proved to be less severe than previously anticipated", said Hussein Sayed, chief market strategist at futures brokerage FXTM.

The U.S.is moving to hit Iran economically with what U.S. Treasury Secretary Steven Mnuchin calls a "maximum pressure" campaign against the country's energy and banking sectors.

Iranian President Hassan Rouhani on Monday said Iran is facing a "war situation" as the final round of USA sanctions against Tehran takes effect.

US Secretary of State Mike Pompeo said that more than 20 countries have already cut their oil imports from Iran, reducing purchases by more than one million barrels per day. US light crude was 50 cents higher at $63.64. "We will continue talking to the rest to bring oil imports to zero", Pompeo said.

Raheem Sterling shines as Manchester City reclaim top spot
Sterling added his second of the game midway through the second half before Sane completed the rout in stoppage time. In the other Sunday game, Chelsea thumped Crystal Palace 3-1 in the London Derby at Stamford Bridge, Chelsea.

They also cover 50 Iranian banks and subsidiaries, more than 200 persons and vessels in its shipping sector, Tehran's national airline, Iran Air, and more than 65 of its aircraft, the Treasury statement said. The sanctions are meant to force Iran to agree on a new deal that will ban it from any nuclear possession, the Treasury said. The deal saw Iran agree to limits on its nuclear programme in exchange for the lifting of sanctions.

At the same time, the U.S. administration has made exceptions to the eight countries that will continue to be able to import Iranian oil.

"We've already reduced Iranian crude oil exports by over a million barrels per day".

Hedge fund managers were net sellers of petroleum-linked futures and options for a fifth week running last week as concerns about sanctions on Iran evaporated and investors refocused on economic worries. "Today the enemy (the United States) is targeting our economy. the main target of sanctions is our people", Rouhani said.

House Democratic Whip Steny H Hoyer said, "Rather than achieving its stated goal of eliminating Iran's oil exports altogether, the administration has issued "exemptions" for major Iranian oil importers, allowing Iran to earn billions of dollars from oil sale". The other parties to the 2015 nuclear deal, Britain, China, France, Germany and Russian Federation, have said they will stay in it.

Irish leader lays down red lines on Brexit border deal
The EU's position to avoid a hard border has been for Northern Ireland to remain within the customs union . A spokesperson for the PM said: "This is all speculation".

Western nations say Iran aims to build nuclear weapons.

Besides, the Iranian top diplomat touched on the possibility of negotiations between the United States and the Islamic republic under certain conditions.

Additionally, eight countries will receive waivers for sanctions on importing Iranian oil: China, India, Italy, Greece, Japan, South Korea, Taiwan and Turkey.

Seoul was also granted an exemption to continue financial transactions with Iran's central bank, allowing South Korea to continue trading oil as well as nonsanctioned items with Iran, Seoul's Foreign Ministry said.

Video of cop killer becomes Trump campaign push
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