Iran said on Saturday it would retaliate against new sanctions imposed by the United States after President Donald Trump set an ultimatum to fix "disastrous flaws" in a deal curbing Tehran's nuclear program.
The Treasury Department also announced on Friday that sanctions would be leveled against 14 individuals and entities in Iran that are connected to "serious human rights abuses and censorship in Iran" as well as Iran's missile program.
Iran's Foreign Ministry has announced that the country will commit to no obligations beyond those it has already agreed to under an worldwide nuclear deal.
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Iran agreed to restrict its nuclear programme for at least 10 years in exchange for the relaxation of sanctions which have hamstrung its economic development in recent years.
The 2015 Iran nuclear deal was struck between the United States, under the administration of former President Barack Obama, Iran and five other countries.
The waiver he will sign suspends USA sanctions on Iran for 120 more days.
"The American administration has failed to undermine the nuclear deal".
Crude prices have been rising for weeks, in part amid expectations that Trump might pull the United States from the nuclear deal, which, in turn, would re-instate sanctions against Iran and limit its ability to sell oil overseas.
The White House said Trump underscored to Macron that Iran must cease its "destabilizing activity" in the region, including its support for terrorism.
Meanwhile, the Iranians have dismissed U.S. pressure to renegotiate the deal.
The officials said Trump expected America's European allies who are also parties to the 2015 accord, which swapped sanctions relief for a rollback of Iran's nuclear program, to join with him in reworking the deal.