'My life is being destroyed': Iranians react to sanctions return

Hassan Rouhani and Donald Trump

The sanctions went back into effect early on Tuesday and target financial transactions that involve USA dollars, Iran's automotive sector, the purchase of commercial planes and metals including gold.

Now, the sanctions ban most transactions with Iran's central bank; its network of ports and insurance companies; the purchase of Iranian sovereign debt; and trade in gold, graphite, aluminum and other precious metals.

The United States also plans to re-introduce potentially more damaging sanctions on Iranian oil in November.

Many European companies withdrew from Iran after Trump pulled the USA out of the 2015 nuclear deal with Tehran and set a grace period for firms to wind down their business in the country.

The other parties to the 2015 nuclear agreement - Britain, France, Germany, China and Russian Federation - say Iran was abiding by its commitments and have vowed to salvage the deal by ensuring economic benefits continue to flow to the country.

The EU said it is simultaneously implementing a "blocking statute" as the new sanctions take effect, stopping European companies from complying with the USA sanctions unless they have permission to do so.

"Preserving the nuclear deal with Iran is a matter of respecting worldwide agreements and a matter of global security", the European bloc stressed. "I am asking for WORLD PEACE, nothing less!" he tweeted.

He said Iran had "always welcomed negotiations" but that Washington would first have to demonstrate it can be trusted.

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Speaking on state TV, Iranian Foreign Minister Javad Zarif warned that President Trump, along with Saudi Crown Prince Mohammed Bin Salman and Israeli Prime Minister Benjamain Netanyahu are isolating themselves with their push for hostility toward Iran.

Brussels says protecting businesses based there is necessary because the sanctions have an "unlawful" reach beyond United States borders.

He said that the sanctions will be "fully enforced" in an "aggressive manner", including countries and companies dealing with Iran. "Anyone doing business with Iran will NOT be doing business with the United States", he wrote.

Other countries have also asked European Union officials for details on the blocking regulations, as they explore ways to bypass sanctions.

The renewed sanctions were among those lifted under a 2015 deal between world powers and Tehran on curbing Iran's nuclear program. "But talks need honesty", Rouhani said.

"There will be pressure because of sanctions, but we will overcome this with unity". But most Iranians have yet to see major economic improvement, and the prospect that Washington would re-impose sanctions helped drive a collapse in the value of Iran's currency this year, raising the cost of imports.

"The remaining parties to the JCPOA have committed to work on, inter alia, the preservation and maintenance of effective financial channels with Iran, and the continuation of Iran's export of oil and gas", the joint statement between the European Union and the E3 highlighted.

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