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Transcript

00:00:00
>> The Iranian regime has a choice. They can either do a 180-degree turn from its outlaw course of action, and act like a normal country, or it can see its economy crumble.>> The US ramped up pressure on Iran Monday, re-imposing and strengthening sanctions targeting Tehran's oil, banking, and transportation sectors.
00:00:19
>> Our objective is to starve the Iranian regime of the revenue it uses to fund violent and destabilizing activities throughout the Middle East, and indeed around the world.>> The sanctions hit more 700 entities, as the US aims to cripple Iran's economy and halt its nuclear program, following President Trump's withdrawal from the 2015 nuclear deal.
00:00:42
Monday's action brings a total number of Iran-related targets to 900, the highest ever, according the the State Department.>> I promise you that doing business with Iran, in defiance of our sanctions, will ultimately be a much more painful business decision than pulling out of Iran.>> But as the US presses ahead to cut off the oil-rich nation, it will allow some of its closest allies and rival China to keep buying oil from Iran, as long as they work to reduce imports to zero.
00:01:11
>> The US will be granting these exemptions to China, India, Italy, Greece, Japan, South Korea, Taiwan, and Turkey.>> Asked Monday why he issued those waivers, President Trump said he didn't want to shock the world's oil markets.>> Well, number one, the sanctions are very tough. Number two, I don't wanna lift the oil prices worldwide by clamping down 100%, it will be a gradual.
00:01:36
>> Tehran, however, sounding defiant.>>
FOREIGN]
> The Americans should be punished forever. They are bullying a great nation with an ancient cultural heritage, and are making new excuses every day.>> The Iranian president also vowed the country will keep selling oil, despite the sanctions.