Donald Trump warns countries against doing business with Iran

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US President Donald Trump on Tuesday warned that any country doing business with Iran will not trade with the US as the first set of US sanctions against Iran that had been eased under the landmark nuclear accord went back into effect.

But a second tranche to return to effect on November 5 covering Iran's vital oil sector, could be far more damaging - even if several key customers such as China, India and Turkey have refused to significantly cut their purchases. "If there is one piece of worldwide agreements on nuclear non-proliferation that is delivering, it has to be maintained", she said on Monday.

"We deeply regret the re-imposition of sanctions by the United States, due to the latter's withdrawal from the Joint Comprehensive Plan of Action (JCPOA)", according to a statement on Monday from the foreign ministers of the UK, Germany, France and the EU.

Brussels says protecting businesses based there is necessary because the sanctions have an "unlawful" reach beyond USA borders. "Individuals or entities that fail to wind down activities with Iran risk severe consequences".

"We deeply regret the re-imposition of sanctions by the U.S", the European Union said in a statement.

Donald Trump issued a statement on Monday, saying "the Iranian regime faces a choice: either change its threatening, destabilizing behavior and reintegrate with the global economy, or continue down a path of economic isolation". Speaking in a television interview, he also demanded compensation for decades of American "intervention" in the Islamic Republic.

He said Iran's leaders may need to "drink the poison cup" and negotiate with the US.

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It bans European companies from complying with the U.S. sanctions, nullifies any United States court order against European businesses and makes it legally possible for affected firms to seek compensation.

They aim "both to coerce Tehran to change its behaviour, as well as to maintain the deterrent power of secondary sanctions" in targeting non-US companies doing business with Tehran, Mr Taleblu told The National. The country's rial currency has fallen in value and the downturn has sparked protests across the nation.

She said such exceptions can be made in cases where "non-compliance seriously damages their interests or the interests of the European Union".

President Trump said on Monday the USA was "fully committed to enforcing all of our sanctions" and would aim "to ensure complete compliance".

"US hypocrisy knows no bounds", he said.

The US sees the sanctions "as a tool to pressure Iran to come back to the negotiating table to rehash the nuclear deal on terms more to Trump's liking".

"Looking at the region from Yemen to Syria to Gaza, the Iranian regime is using the resources they had got from the Joint Comprehensive Plan of Action [the official name of the 2015 deal] to spread human misery across the region, instead of investing it in their people at home", an official said. "That's the ask", said Pompeo on Sunday ahead of the re-imposition.