Iran vows to continue oil exports despite US sanctions

ANKARA

Iranian President Hassan Rouhani vowed Tuesday to continue oil exports despite U.S. sanctions.

Last week, Washington announced that it would end waivers for sanctions on countries importing oil from Iran.

"We were subjected to cruel and illegal sanctions by the U.S., which especially affect workers, the middle and low-income groups," Rouhani said in a speech at a ceremony held on the occasion of Workers Week in capital Tehran.

The Iranian president suggested a reduction in dependence on oil revenues and increase in non-oil national industry to cope with the economic sanctions.

"The U.S. attempt to reduce Iranian oil exports to zero is a wrong and erroneous decision," Rouhani said. "We will not allow this decision to be implemented."

"Americans will see Iran continue to export oil," he vowed.

U.S. President Donald Trump administration re-imposed sanctions on Iranian oil exports in November after the U.S. pulled out of the 2015 Iran nuclear deal between Tehran, Washington, and five other countries.

The administration then announced it would give 180-day waivers, called Significant Reduction Exceptions (SREs), to eight countries to help them wean off their supply of Iranian oil, including China, Greece, India, Italy, Japan, South Korea, Taiwan and Turkey.

Writing by Mahmoud Barakat