Iran wants to override the new US sanctions. "America wanted to cut Iran's oil sales to zero," said President Hassan Rohani during a meeting with business experts broadcast by state television. "But we will continue to sell our oil." One would "break the sanctions".

The US will reinstate Iran's energy and banking sector sanctions suspended for a long time under the 2015 nuclear agreement. Details of the sanctions will be announced by the US government during the day.

In order to prevent a destabilization of the oil price, eight countries are expected to apply temporary exemptions. China, India, South Korea, Japan and Turkey, which are among the largest buyers of Iranian oil, are likely to be among them. In contrast, other countries, including EU countries, continue to threaten secondary sanctions if US sanctions are violated.

Iran said it was in constant contact with the other signatories to the nuclear agreement. A State Department spokesman said it would "take time to establish mechanisms to continue trade with the European Union."

Germany and other EU states want to continue to allow payment transactions with Iran via a so-called special purpose vehicle. For example, it could allow for barter deals where no money flows. Switzerland also announced that it would create a payment channel to continue supplying pharmaceutical products and food to the country.

China demanded to respect its trade relations with Iran and regretted the new sanctions. A spokesman for the Chinese foreign ministry said that the country was subject to exceptions. The EU, Germany, France and Great Britain regretted in a joint statement that the US wanted to revive its punitive measures.

Oil prices fall despite sanctions

US President Donald Trump wants to use the punitive measures to bring the Tehran government, among other things, give up their nuclear and missile programs. Trump had canceled the international nuclear deal with Iran in May, which had also been signed by Germany. Massive demonstrations against the US took place in Iran over the weekend.

DPA

Anti-US demonstration in Tehran

Despite new sanctions, oil prices fell on Monday. The variety Brent from the North Sea cheapened on Monday by 0.2 percent to $ 72.65 per barrel. "The effect of the sanctions is mitigated by the exceptions," said commodity expert Sukrit Vijayakar of the consulting firm Trifecta. Crude oil prices have been on the decline since the beginning of October.

Israeli Defense Minister Avigdor Lieberman thanked Donald Trump for the new sanctions. "President Trump's brave decision is the upheaval the Middle East has been waiting for," said Lieberman. "With a single step, the United States is bringing a decisive blow to Iran's anchorage in Syria, Lebanon, Gaza, Iraq and Yemen."

Iran and Israel are archenemies. Israeli Prime Minister Benjamin Netanyahu is considered the sharpest critic of the nuclear deal with Iran.