Iran Receives More European Airplanes Ahead of U.S. Sanction Renewal

Persian Gulf Arabian Gulf

The US also said that it would exert "maximum economic and diplomatic pressure" on other countries to stop buying crude oil from Iran.

Iran says the sanctions are endangering lives by blocking the sale of new planes and spare parts for its ageing fleets.

"We need to create a future full of hope for our people", he stressed.

This is a blow to US President Donald Trump's efforts to isolate Iran after his withdrawal from a 2015 nuclear deal with the country, officially known as the Joint Comprehensive Plan of Action (JCPOA), they said.

NEW DELHI, Aug 2 (Reuters) - India's monthly oil imports from Iran surged by about 30 percent to a record 768,000 barrels per day (bpd) in July, as state refiners' intake surged ahead of US sanctions in November, preliminary tanker arrival data obtained by Reuters showed.

"China always holds the view that JCPOA is a multilateral deal which is verified and approved by the United Nations Security Council and accords the common interests of all parties and the worldwide community, which must be respected and safeguarded so as to maintain the authority of the United Nations, the effectiveness of multilateral deals and the credibility of the global rules", he was quoted by the official Xinhua News Agency as saying.

State refiners that had cut imports from Iran in 2017/18 due to a dispute over development rights of a giant gas field, have tied up significantly higher volumes for this fiscal year that began in April, drawn to the discounts offered by Iran.

Protests have broken out in Iran since the beginning of the year over high prices, water shortage, power cuts and alleged corruption.

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In Washington, the US State Department said on its Persian-language Twitter account: "While it is ultimately up to the #people_of_Iran to determine their country's path, #America supports the voice of the Iranian people, which has been ignored for a long time".

The first phase hits on Tuesday with blocks on financial transactions and imports of raw materials, as well as sanctions on Iran's automotive sector and commercial aircraft purchases.

The Associated Press reported that a shipment of five new ATR72-600 planes arrived in Tehran as part of a deal with a French-Italian manufacturer for 20 aircraft.

Saudi Arabia, Russia, Kuwait and the UAE have increased production to help to compensate for an anticipated shortfall in Iranian crude supplies once planned United States sanctions take effect later this year. The other partners in the agreement, including the U.K., France, Germany and Russian Federation, criticized the US move to quit the deal.

It is not yet clear how all this will affect ordinary Iranians, but a Western diplomat in Tehran who monitors the economy said prices of basic foods were already creeping up.

"We are already seeing vehicle prices going through the roof over fears about raw material imports", she said.

"There is a massive loss of confidence in the financial system and the government's ability to control things and withstand sanctions".

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