Iran acquires commercial aircraft ahead of U.S. sanctions

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"When we decide anything on Iran, we will inform you".

The drive, supported by Secretary of State Mike Pompeo and National Security Adviser John Bolton, has intensified since Trump withdrew on 8 May from a 2015 seven-nation deal to stop Iran from developing nuclear weapons.

US sanctions targeting Iranian trade in automobiles, gold and other key metals will be re-imposed on Monday, while sanctions targeting the country's energy and banking sector will resume November 4.

According to Bloomberg news agency, which cited two officials familiar with the negotiations, Beijing, however, agreed not to increase purchases of Iran's crude.

Currently China is the world's top buyer of crude oil, including from Iran, making Chinese refusal to cooperate a major challenge to the US. However, only 13 planes have been delivered since sanctions on Iran were lifted under the nuclear pact.

Washington imposed a series of additional sanctions on Iranian entities and individuals, as well as foreign companies in Iran, squeezing Iran economically.

Rouhani has suggested Iran might block the Strait of Hormuz in response to a shutdown of its oil exports.

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In a Wednesday Twitter post, he called on US President Donald Trump to release a list of "relatives of Iranian government officials that have green cards and bank accounts in the United States", if such a record exists.

It said this was part of a pre-planned plot by the US, Israel and Saudi Arabia to exploit economic tensions inside Iran.

Also last month, China, which is Iran's biggest customer, said it did not accept unilateral sanctions against Iran.

Interestingly, China has also rejected a USA request to cut imports from its biggest customer, Iran, for the sake of fulfilling us president Donald Trump's objective of achieving a complete halt of outgoing Iranian crude supplies; China's rejection would presumably lessen the chance of a market tightening that many analysts are still anxious about and consequently help keep prices relatively low - which is what Trump was demanding from the Organization of the Petroleum Exporting Countries (OPEC).

When pressed by CNBC to answer the questions she was raising, Croft replied, "I think this market will tighten at the end of this year", and added that Venezuelan production continues to fall and will be a contributing factor.

HPCL, for example, will not be buying oil from Iran in August, chairman M. K. Surana told Reuters earlier this week, but did not elaborate on whether the refiner would resume importing Iranian oil after that.

In April-July, the first four months of this fiscal year, India's oil imports from Iran has risen by an annual 40 percent to about 677,500 bpd, the data showed.

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