"A second 180-day wind-down period is slated to end November 4, when another round of previously relaxed sanctions will be reimposed on oil sales and Iran's energy sector".
Administration officials said the snapback sanctions would limit Iran's ability to purchase USA dollar banknotes, would impede the country's ability to trade gold and precious metals and would prohibit Iran from selling or transferring Iranian graphite, as well as aluminum, steel, coal and software used to integrate industrial processes.
Iranian President Hassan Rouhani dismissed a U.S. call for talks on Monday, hours before Washington was due to impose new sanctions in line with President Donald Trump's decision to pull out of a 2015 agreement over Iran's nuclear programme.
Last month, Iran's Supreme Leader Ayatollah Ali Khamenei backed Rouhani's suggestion that Iran may block Gulf oil exports if its own exports are stopped.
"We urge all nations to take such steps to make clear that the Iranian regime faces a choice: either change its threatening, destabilizing behavior and reintegrate with the global economy or continue down a path of economic isolation". "And this is against the nation of Iran and the national interests of Iran".
The Trump administration "wants the world to believe it's concerned about the Iranian people".
Under that deal, nuclear-related Western sanctions on Iran were lifted. "But talks need honesty", he added. The Iranian money plunged to a record low against the U.S. dollar last week. Iran's rial now trades over double its government-set rate to the US dollar.
That will set up a showdown with the USA, with one official warning the USA will make sure the pressure is air-tight: "Make no mistake about it, we are very intent on using these authorities".
"The Americans thought that they can add to our social and economic problems through increasing pressure", he said.
"The JCPOA is working and delivering on its goal, namely to ensure that the Iranian program remains exclusively peaceful, as confirmed by the International Atomic Energy Agency (IAEA) in 11 consecutive reports", the joint statement reads.
Image President Rouhani has dismissed calls for talks with the US
The measures appeared to calm the markets on Monday, with the rial strengthening to 95,500 to the dollar - a 20 percent improvement on its record-low of 119,000 a fortnight ago.
The decision goes into effect on Tuesday.
With senior religious authorities calling for a crackdown on graft, the judiciary said on Sunday it had arrested the vice-governor of the central bank in charge of foreign exchange, Ahmad Araghchi, along with a government clerk and four currency brokers.
The twin-prop planes are jointly manufactured by France's Airbus and Italy's Leonardo, but because just over 10 percent of their parts are made in the United States, they are subject to the renewed sanctions.
Rouhani made the comments in a televised interview on Monday evening, just hours before the first round of unilateral "snap back" U.S. sanctions take effect on Tuesday.
They will also limit Iran's access to software and automotive sectors, while blocking its ability to buy commercial aircraft or trade in food and other goods, as well.
Hemmati said Iran has exported some $15 billion worth of non-oil products from April to July. On these, as on other topics, our work continues, including with third countries interested in supporting the JCPOA and maintaining economic relations with Iran.
His statements were interpreted as a hint at Iran's readiness to block the Strait of Hormuz, a major oil shipping route, in retaliation for any hostile USA action against Iran.
However, Rouhani offered faint praise for Trump in his appearance on state TV.
The sanctions are being put back into place as a result of the United States pulling out of the nuclear agreement struck with the regime under President Barack Obama.
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