Iran's president says his country is in "economic fight" with U.S.

Iran's president says his country is in

Iran's president says his country is in "economic fight" with U.S.

He said that the Iranian nation would continue to emerge victorious, stressing that bullying powers will come to the conclusion that they had take the wrong path in dealing with the Islamic Republic.

The rial is under heavy pressure from the U.S. sanctions threat.

An Iranian oil official dismissed US efforts to squeeze Iran's oil industry.

The official also said that countries should start reducing the import of oil from Iran now and bring it to zero by November 4.

Iranian President Hassan Rouhani takes part in a news conference near the United Nations General Assembly in the Manhattan borough of NY, U.S., September 22, 2016.

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On Tuesday, state officials said the USA wants its allies to cut off funding by stopping all imports of Iranian oil by November with no exemptions.

Other videos making rounds on social media appear to show the protestors also chanting, "Death to Dictator".

Iran is already feeling economic pressures after protests erupted this week amid concerns about rising prices and a decline in the value of its currency, the rial.

If India believed that just like the first round of Iran sanctions, it could negotiate a softer deal with the United States, those hopes were dashed.

"If Saudi Arabia cannot offset the loss of Iranian oil, then Washington could always tap into its Strategic Petroleum Reserve".

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He predicted Iran might ultimately enter a fresh recession as lower oil revenues prompted the government to put public sector projects on hold and as the economy became more militarized in response to USA pressure. "But we will not sacrifice our independence", said Rouhani in an address broadcast on state television. U.S. sources said the North Korean template, where punitive and extended sanctions brought Kim to the negotiating table might be repeated in the case of Iran. besides, across the political spectrum in Washington, Iran is the most easily identifiable enemy of the US. Tehran Times quoted Mohammad Reza Pourebrahimi, head of parliament's economic committee, as saying the ban would prevent an outflow of $10 billion of foreign currency. These figures suggested Iran might withstand the sanctions without an external payments crisis.

Indian and USA officials are now meeting for talks in New Delhi to try to resolve a growing trade dispute triggered by the Trump administration's decision to hit Indian steel and aluminum exports with new tariffs.India has promised to retaliate with tariffs on 29 U.S. products, starting August 4.

Like the Mashhad uprising, this one in Tehran - and my sources tell me similar ones are taking place today in Shiraz, Qeshm, Kermanshah, and Mashhad - began over economic concerns and nearly immediately turned political, as Iranians recognize a corrupt theocracy has no concern for the citizens who keep it fed.

It may not be a sign that the era of redemption is upon us, but it's a rare occurrence when such unorthodox and radical sentiments are heard in the Muslim world, indicating that there are Iranians who are fed up with the totalitarian regime in Tehran that is focused on spreading terrorism and chaos wherever it can. But Hamabayashi said oil prices are not expected to spike further due to the latest move.

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