Iran intends to defy the newly slapped U.S. sanctions and continue to sell, Iranian President Hassan Rouhani reportedly said on state TV on Monday, CNBC cited Reuters reporting.
“America wanted to cut to zero Iran’s oil sales … but we will continue to sell our oil … to break sanctions,” Rouhani reportedly told economists at a meeting that was broadcast live.
Washington reimposed sanctions on Iran in order to put pressure on the Islamic republic to curb its nuclear, missile and regional activities. These are the second round of sanctions the U.S. is imposing on Iran.
The new American sanctions take aim at Iran’s vital oil industry — a crucial source for its weak economy. Its national currency has plummeted over the last year amid an economic crisis. Prices for everything from mobile phones to medicine have skyrocketed.
Iran’s national currency, the rial, now trades at 145,000 to one U.S. dollar — down from 40,500 to $1 a year ago.
Rouhani insisted on state TV that Iran will “sell its oil and it will sell” despite the crippling sanctions.
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