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The United States reimposed stiff economic sanctions on Iran on Monday, renewing pressure on the Islamic Republic despite statements of doubt from European allies, three months after President Donald Trump pulled the US out of the worldwide accord originally brokered by Barack Obama.

Iran is also taking solace in the fact that most of the world strongly opposes Trump's policy, with China, India and Turkey all saying they are unwilling to substantially cut purchases from Iran when the U.S. reimposes sanctions on the energy sector on November 5. "These include sanctions targeting Iran's energy sector, including petroleum-related transactions, as well as transactions by foreign financial institutions with the Central Bank of Iran", added the statement.

The Trump administration moved to restore some United States sanctions on Iran and reaffirmed plans to impose tougher penalties on the country's oil sales in November, as President Hassan Rouhani comes under increasing economic and political pressure to address the crisis.

The statute, set to enter into force by 6am Tuesday, is a response to the Trump administration decision in May to unilaterally withdraw from the 2015 Iran nuclear deal.

Iran is accusing the USA of reneging on the nuclear agreement, signed by the Obama administration, and of causing recent Iranian economic unrest. The U.S. move has dismayed America's European allies trying to preserve the nuclear deal.

The EU has taken the unprecedented step in a bid to salvage the nuclear deal struck with Iran in 2015. "I am asking for WORLD PEACE, nothing less!" he tweeted.

In a statement on Monday just hours before the sanctions went back into effect, Trump said: "The Iranian regime faces a choice".

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In Washington, senior administration officials said that while critics of Trump's withdrawal from the Iran pact predicted that the threat of unilateral sanctions reimposed by the United States would be ineffective, the reality has shown the opposite.

"The E.U.is morally bankrupt, and we need to remember that next time they try to lecture us", Mr. Erdan told Israel Radio.

The foreign ministers of Germany, the United Kingdom and France released a statement on Monday that said the nuclear deal remained "crucial" to global security.

He said: "If you stab someone with a knife and then you say you want talks, then the first thing you have to do is remove the knife".

He added, "To this day, Iran threatens the United States and our allies, undermines the global financial system, and supports terrorism and militant proxies around the world".

Iran's currency has lost around half its value since Trump announced the USA would withdraw from the nuclear pact. "But if the government has a serious plan they can control the situation".

US trade with Iran stood at $258 million (Dh948m) in 2016, according to the US Census Bureau, while exports to Iran from the European Union, which will be affected by secondary sanctions, were worth $13 billion previous year.


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