US Exposing Panic in White House by Escalating Pressure on Tehran - Iran

MOSCOW (Sputnik) - The United States' "economic terrorism" against Iran has exposed the "panic and desperation" of the US authorities, Iranian Foreign Minister Mohammad Javad Zarif said on Tuesday, referring to the White House's decision to scrap sanctions waivers for Iranian oil imports.

"Escalating #EconomicTERRORISM against Iranians exposes panic & desperation of US regime — and chronic failures of its client co-conspirators… Inheritors of ancient Persian civilization don't base strategy on 'advice' of foreigners — let alone Americans," Zarif said on Twitter.

READ MORE: EU Regrets US Decision on Iran Sanctions — European Commission

The comment was made in wake of Monday's announcement made by the White House, saying that the United States would end its sanctions waivers for importers of Iranian oil starting on May 2.

Previously, Washington has repeatedly urged all countries to eventually cut their imports of Iranian oil to zero, what is likely to have a significant impact on the country, where oil exports serve as one of the main sources of revenue.

After US President Donald Trump announced Washington's withdrawal from the Iran nuclear deal last May, he granted in November six-month waivers to eight countries dependent on Iranian energy imports — China, Greece, India, Italy, Japan, South Korea, Taiwan, and Turkey — that exempted them from the US sanctions.

However, the move has led to the reinstatement of the country's sanctions against Iran, which had been previously lifted under the agreement. Two rounds of sanctions have been put into effect since then, including large-scale restrictions covering Iran oil exports.