Mike Pompeo warns Russia, China over Iran sanctions

Khamenei was speaking on the eve of the anniversary of the 1979 takeover of the US embassy in Tehran

Washington has indicated that it will increase its pressure on Iran gradually rather than forcing an immediate crisis as President Trump's renewed oil and financial sanctions take effect tomorrow.

With Iran's major oil importers not being affected by the sanctions, it's not really hurting them all too much even if said exemptions are to be temporary.

Thousands of Iranians have staged a rally in Tehran marking the anniversary of the 1979 US Embassy takeover as Washington restores all sanctions lifted under the nuclear deal.

Iran has greeted the reimposition of USA sanctions with air defence drills and an acknowledgement from the president, Hassan Rouhani, that the country faces a "war situation", raising tensions in the Middle East.

The other parties to the nuclear deal - Britain, France, Germany, China and Russian Federation - have all vehemently opposed the U.S. move and vowed to keep trade going, though they are struggling to convince private companies to stand up to United States pressure.

Other countries were given partial waivers after they demonstrated that they were making serious efforts to reduce their Iranian oil imports.

France, Germany, Britain, and the European Union issued a joint condemnation Friday of the U.S. move, vowing to protect European companies doing "legitimate" business with Tehran.

"They're aimed at a singular objective, denying the world's largest state sponsor of terrorists the capacity to do things like they did this past couple weeks, attempted assassination campaign in the heart of Europe", he said.

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"I think, sorry to say... your president is a megalomaniac", proclaimed one demonstrator. Wallace noted that "there are a lot of experts who believe that India and China are never gonna stop buying oil from Iran". "Watch as we've already taken more crude oil off the market than any time in previous history", he told CBS's "Face the Nation" on Sunday. "Over this 180-day wind-down period, what we have seen is firms and financial institutions have reacted very quickly; likely they had plans on the shelf as there was a snap-back scenario".

Iran's clerically-led government celebrates the embassy takeover every year as a decisive blow against the United States, which had supported the autocratic rule of Shah Mohammad Reza Pahlavi. For now, Iran continues to abide by the accord which saw it limit its enrichment of uranium.

However, analysts doubt this will materially lessen the impact of sanctions on Iran.

Iran's president has said his country will "proudly bypass" Donald Trump's "illegal" and "unjust" sanctions by selling oil.

In parallel with the imposition of the crude oil sanctions, the US Treasury Department is placing more than 600 Iranian individuals and entities on a black list.

"Today, Iran is able to sell its oil and it will sell", Rouhani vowed Monday as the sanctions kicked in.

India and South Korea do not border Iran, but they both rely heavily on its oil and they are important countries to overall United States interests.

It is 39 years since 52 American citizens were taken hostage and held for 444 days after hardline students stormed the U.S. embassy.

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