(AP) — Iran greeted the re-imposition of U.S. sanctions on Monday with air defense drills and a statement from President Hassan Rouhani that the nation faces a “war situation,” raising Mideast tensions as America’s maximalist approach to the Islamic Republic takes hold. The sanctions end all economic benefits America had granted Tehran for its 2015 nuclear deal with world powers, though Iran for now continues to abide by the accord that saw it limit its enrichment of uranium. While at the
moment not threatening to resume higher enrichment, Iranian officials in recent months have made a point to warn the controversial process could resume at any time, faster than before. The new American sanctions particularly hurt Iran’s vital oil industry, a crucial source of hard currency for its anemic economy. Its national currency has plummeted over the last year, sending prices for everything from mobile phones to medicine skyrocketing. “Today, Iran is able to sell its oil and it will sell,” Rouhani vowed Monday as the sanctions kicked in. READ MORE
