The desperately needed shipments have caused a diplomatic standoff between the United States and Iran and Venezuela, which are under U.S. sanctions.

Iraq is heavily reliant on Iran to maintain its power supply, and even then it has significant blackouts that are exacerbated by the summer heat.

Economic sanctions should be lifted to prevent hunger crises in countries hit by COVID-19 – UN rights expert

The US sanctioned five UAE companies

The US State Department named nine entities Wednesday under new sanctions for continuing to trade petrochemicals with Iran.

The potential that the waivers would lapse has raised concerns since 2019 that state-owned Russian nuclear company Rosatom, which does work for Iran's civilian nuclear program but also supplies a fifth of US enriched uranium, could be sanctioned, disrupting the supply of nuclear fuel to US utilities.

The US State Department on Thursday set sanctions against companies in Dubai, Hong Kong, and Shanghai,

Iran's economy shrank by 4.6% in the 2018-2019 fiscal year and the contraction is expected to deepen to 7.2% in the current fiscal year, the IIF, a finance industry body, said this week.

The foreign ministers of France, Germany and the UK have triggered a dispute resolution mechanism over the nuclear deal with Iran - the Joint Comprehensive Plan of Action (JCPOA) - following the Middle Eastern country's further step away from its commitments. Josep Borrell, EU foreign affairs chief and coordinator of the JCPOA joint commission, said he had received today a letter from the three ministers for resolution through the mechanism, as set out in paragraph 36 of the agreement.

German chancellor Angela Merkel on Saturday repeated a call for all parties to respect the Iranian nuclear accord, despite Iran’s decision to intensify its enrichment of uranium and moves by the United States to impose economic sanctions.

I, DONALD J. TRUMP, President of the United States of America, find that Iran continues to be the world's leading sponsor of terrorism and that Iran has threatened United States military assets and civilians through the use of military force and support to Iranian-backed militia groups.

the country's nuclear programme "no longer faces any operational restrictions, including enrichment capacity, percentage of enrichment, amount of enriched material, and research and development."

The Islamic Republic has rejected negotiating a new deal with the Trump administration, saying talks are only possible if Washington returns to the nuclear pact and lifts sanctions.

Trader estimates for cargoes loading from Iran bound for China in November generally ranged between seven and 10. Some said the number was lower at six to seven, while one source said it did not exceed nine.

The collateral damage of the United States’ trade wars is being felt from the fjords of Iceland to the auto factories of Japan.