Iranian President Hassan Rouhani said the country should boost non-oil exports and continue to sell petroleum products overseas to counter American sanctions just a day after the White House ratcheted up pressure on the Islamic Republic.
The United States on Friday took new measures in a bid to force Iran to stop producing low-enriched uranium and expanding its only nuclear power plant.
At the same time, Secretary of State Mike Pompeo renewed waivers of US sanctions allowing Russia, China and European countries to pursue cooperation programs designed to prevent Iran from reactivating a defunct nuclear weapons program.
But, the State Department said, the renewable waivers would be granted only for 90 days, a shorter period than previously.
The moves are part of the efforts by the administration of President Donald Trump to impose international political and economic isolation on Tehran that began with the US withdrawal a year ago from the 2015 nuclear deal negotiated with Iran by America and other world powers.
It was the third punitive action taken against Iran in as many weeks. Last week, the US said it would grant no more sanctions waivers for countries buying Iranian oil, accelerating its plan to push Tehran’s oil exports to zero. The Trump administration also took the unprecedented step of designating Iran's elite Revolutionary Guard Corps as a foreign terrorist organization. In response, Iran designated the US Central Command – or CENTCOM – a terror group, as well as all American forces in the Middle East.
The US actions announced on Friday included an end to a sanctions waiver that allowed Iran to export low-enriched uranium when it neared the agreed 300-kg limit it can store under the nuclear deal at its main nuclear facility of Natanz.
State Department spokeswoman Morgan Ortagus said in a statement that the move is aimed at forcing Iran to end its production of low-enriched uranium, a demand that Iran has repeatedly rejected.
"Iran must stop all proliferation-sensitive activities, including uranium enrichment, and we will not accept actions that support the continuation of such enrichment," said Ms Ortagus.
Until now, Iran was allowed to ship low-enriched uranium produced at Natanz to Russia before it hit the 300-kg limit, said David Albright of Institute for Science and International Security.
Beginning on Saturday, Ms Ortagus said, the United States also could use sanctions to block any assistance to Iran to expand the Bushehr Nuclear Power Plant, the only such facility in the country.
The plant currently has one working Russian-built reactor, which began operations in 2011, and Iran plans to expand the facility. Moscow signed a deal with Tehran in 2014 to build up to eight more reactors in the country.
Ms Ortagus said that the United States would no longer waive sanctions that allowed Iran to ship heavy water produced at its Arak facility beyond a 300-tonne limit set in the 2015 nuclear deal to Oman for storage.
Heavy water can be employed in reactors to produce plutonium, a fuel used in nuclear warheads.
The renewed sanctions waivers will permit Russia, China, and European countries to continue cooperation programs allowed by the nuclear deal that are designed to ensure that Tehran does not revive its nuclear weapons program.
US intelligence agencies and the International Atomic Energy Agency say that Iran ended a clandestine program to develop a missile-borne nuclear warhead in 2003. Iran denies that it ever pursued such a program.
Under the waivers, China and Britain can continue designing and building a new reactor core for Arak that would make it difficult to produce plutonium.
Russia would be able to continue providing uranium fuel for Bushehr's single reactor.
The State Department said that a sanctions waiver also was granted to allow the modification of infrastructure at the once-secret Fordow uranium enrichment plant "to help ensure that the facility is no longer used for uranium enrichment."
It was not clear from the statement if the waiver applied to Russia's work with Iran to develop at Fordow the capability to produce non-radioactive isotopes.
France would be permitted to continue a civilian nuclear safety training program.
"We reserve the right to revoke or modify our policy covering these non-proliferation activities at any time if Iran violates its nuclear obligations or commitments or we conclude that such projects no longer provide value in constraining Iranian nuclear activities," Ms Ortagus said.
How to keep control of your emotions
If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.
Greed
Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.
Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.
Fear
The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.
Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.
Hope
While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.
Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.
Frustration
Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.
Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.
Boredom
Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.
Tip: Open an online demo account and get your thrills without risking real money.
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The National in Davos
We are bringing you the inside story from the World Economic Forum's Annual Meeting in Davos, a gathering of hundreds of world leaders, top executives and billionaires.
Chef Nobu's advice for eating sushi
“One mistake people always make is adding extra wasabi. There is no need for this, because it should already be there between the rice and the fish.
“When eating nigiri, you must dip the fish – not the rice – in soy sauce, otherwise the rice will collapse. Also, don’t use too much soy sauce or it will make you thirsty. For sushi rolls, dip a little of the rice-covered roll lightly in soy sauce and eat in one bite.
“Chopsticks are acceptable, but really, I recommend using your fingers for sushi. Do use chopsticks for sashimi, though.
“The ginger should be eaten separately as a palette cleanser and used to clear the mouth when switching between different pieces of fish.”
LIVING IN...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
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Fixtures
Sunday, December 8, Sharjah Cricket Stadium – UAE v USA
Monday, December 9, Sharjah Cricket Stadium – USA v Scotland
Wednesday, December 11, Sharjah Cricket Stadium – UAE v Scotland
Thursday, December 12, ICC Academy, Dubai – UAE v USA
Saturday, December 14, ICC Academy, Dubai – USA v Scotland
Sunday, December 15, ICC Academy, Dubai – UAE v Scotland
Note: All matches start at 10am, admission is free
The Bio
Hometown: Bogota, Colombia
Favourite place to relax in UAE: the desert around Al Mleiha in Sharjah or the eastern mangroves in Abu Dhabi
The one book everyone should read: 100 Years of Solitude by Gabriel Garcia Marquez. It will make your mind fly
Favourite documentary: Chasing Coral by Jeff Orlowski. It's a good reality check about one of the most valued ecosystems for humanity
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
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%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ERobert%20Lorenz%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Liam%20Neeson%2C%20Kerry%20Condon%2C%20Jack%20Gleeson%2C%20Ciaran%20Hinds%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2%2F5%3C%2Fp%3E%0A
KEY DEVELOPMENTS IN MARITIME DISPUTE
2000: Israel withdraws from Lebanon after nearly 30 years without an officially demarcated border. The UN establishes the Blue Line to act as the frontier.
2007: Lebanon and Cyprus define their respective exclusive economic zones to facilitate oil and gas exploration. Israel uses this to define its EEZ with Cyprus
2011: Lebanon disputes Israeli-proposed line and submits documents to UN showing different EEZ. Cyprus offers to mediate without much progress.
2018: Lebanon signs first offshore oil and gas licencing deal with consortium of France’s Total, Italy’s Eni and Russia’s Novatek.
2018-2019: US seeks to mediate between Israel and Lebanon to prevent clashes over oil and gas resources.
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Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900