US ‘Pleased’ Some States Moving to Stop Buying Iran's Oil - State Department

"Iran uses its oil revenues for funding proxy wars and terrorism. The United States is working with allies and partners to deprive the regime of their funds. We are very pleased that so many companies and countries are moving forward to stop awarding Iranian oil," Fannon said during his address at the Oil & Money conference in London.

However, Fannon declined to speak to journalists after his address to elaborate on this statement.

Ex-Iraqi Envoy: Baghdad, Tehran Ties Could Cause Tension With Washington

10 October 2018, 04:31 GMT

French energy giant Total has left the Iranian market after Washington announced in May that it would exit Iran's nuclear deal and reimpose sanctions on the country, including extraterritorial ones that may concern third parties.

In September, the remaining parties to the nuclear deal said they had agreed to work on special payment channels to facilitate trade with Iran, such as EU-proposed Special Purpose Vehicle (SPV).

Western Powers Will Never Give Up US Policy in South China Sea—Research Scholar

9 October 2018, 15:14 GMT

The first set of sanctions, concerning Iran's purchase of dollars, trade in gold and precious metals, as well as sales of commercial passenger aircraft and auto parts and related services, came into effect on August 7. The second portion of sanctions, concerning sales of oil and related products, will be reinstated on November 4.

After the United States announced its withdrawal, other participants of the deal, including Iran itself, China, Germany, France, Russia, the United Kingdom and the European Union, reaffirmed their commitment to the agreement.