Iran receives new airplanes, a day before U.S. starts reimposing sanctions

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Since President Donald Trump announced in May that the USA would be withdrawing from the Iran nuclear deal and restoring sanctions on the country, Washington officials have attempted to convince foreign governments to stop importing Iranian oil.

The nuclear deal lifted global sanctions in return for Iran limiting its nuclear program and allowing regular inspections.

China has rejected a United States demand to cut Iranian oil imports despite Washington's attempts to bring down the Islamic Republic's oil sales to zero, Bloomberg reports.

U.S. President Donald Trump pulled out of the 2015 deal in May.

Washington imposed a series of additional sanctions on Iranian entities and individuals, as well as foreign companies in Iran, squeezing Iran economically.

"It's a jittery feel here, as long as we have Iranian sanctions uncertainty and tariff uncertainty, and it doesn't take much to spark a significant swing one way or the other", said Jim Ritterbusch, an analyst in Galena, Illinois.

He also said Tehran expects the European countries to bring forward a practical package of proposals to salvage Iranian nuclear deal, also known as JCPOA, after the US pull-out in May.

Iranian President Hassan Rouhani has warned the US against any attempt to stop Tehran's oil trade, threatening to block the strategically important Strait of Hormuz.

"At 9pm [15:30 GMT on Friday] they attacked the school and tried to break the doors down and burn things", the Fars News Agency quoted the head of the school in the town of Ishtehad, Hojatoleslam Hindiani, as saying.

Iran says the sanctions are endangering lives by blocking the sale of new planes and spare parts for its ageing fleets.

Last month, United States officials familiar with the matter said the Trump administration had launched a communications campaign to foment unrest and put pressure on Iran to end its nuclear programme and its support of armed groups.

"The unilateral sanctions should be abandoned because they are counterproductive", Chinese Foreign Ministry spokesperson Hua Chunying told reporters.

When pressed by CNBC to answer the questions she was raising, Croft replied, "I think this market will tighten at the end of this year", and added that Venezuelan production continues to fall and will be a contributing factor.

State refiners accounted for about four-fifths of the imports; Indian Oil Corp along with its unit Chennai Petroleum Corp imported approximately 300 000 bpd oil, the preliminary data showed.

Remaining sanctions - including on Iran's oil and gas sector and central bank - will resume on Nov 5.

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