India cuts Iranian oil imports in June ahead of US sanctions

Iran promises to sell as much oil as it can in wake of US sanctions

Pompeo talks tough on Iran while visiting Emirates

"In our meeting with the Saudi energy minister, we discussed maintaining a well-supplied oil market to guard against volatility".

Pompeo also warned Tehran that "America is committed to keeping sea lines open, keeping the transit of oil available for the entire world", in a response to Iranian President Hassan Rouhani's suggestion that any disruption of Iranian oil exports could result in the disruption of oil exports throughout the region. Pompeo said that the us would consider waivers for certain countries that wish to import Iranian oil, but added that Washington is determined to take a hard line on Tehran.

Separately, the USA is seeking to ensure anti-Iran pressure from its allies on the Persian Gulf's coasts.

Iran's vice president acknowledged Tuesday that United States sanctions would hurt the economy, but promised to "sell as much oil as we can" and protect banking.

Listing the "privileges", he said that in the previous round of sanctions "Iran did its best to ensure security of oil supply to India and offered flexibility through selling oil with longer term credits and discounted prices as well as oil payments in rupee, and insurance coverage for oil shipments which facilitated our bilateral trade and pushed up significantly Indian export to Iran".

Most recently, senior US State Department officials completed three days of talks on Iran in Saudi Arabia, and "discussed new ways to deprive th'se regime of revenues", Reuters cited a State Department official as saying to reporters while traveling on Pompeo's plane.

Pompeo met Abu Dhabi's powerful crown prince, Mohammed bin Zayed Al Nahyan, while on his short trip to the UAE.

Iran's Vice President Eshaq Jahangiri said that the United States pledges to halt any sale of Iranian oil will undoubtedly have an effect, acknowledging the impact of economic sanctions which will begin gradually next month.

U.S. President Donald Trump's decision to walk out of the Joint Comprehensive Plan of Action in May means some unilateral sanctions on Iran will be reinstated by August.

The other signatories to the accord, which include Russia, China, the UK, France and Germany, however, have strongly objected to the US's withdrawal, and vowed to try to preserve the deal.

"The one that we are most focused on today is. that we deny Iran the financial capacity to continue this bad behavior", Pompeo said.

He said "the American course of diplomacy and trying to bully the allies into something that they don't want to" are "against their national interest", adding that such a policy "is simply uncivilized and a barbarian way of conducting global diplomacy". We coordinated - we discussed USA oil sanctions to deny Iran revenue to finance terrorism.

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