'Trade with Iran, you won't trade with US', says Donald Trump

US President Donald Trump. Pic/AFP

US President Donald Trump yesterday said that sanctions reimposed on Iran were the "most biting ever" as he warned other countries from doing business with Tehran.

"The Iran sanctions have officially been cast. These are the most biting sanctions ever imposed, and in November they ratchet up to yet another level," he wrote in a tweet.

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Hassan Rouhani, Iranian President

"Anyone doing business with Iran will NOT be doing business with the United States. I am asking for WORLD PEACE, nothing less." The sanctions reimposed on Tuesday - targeting access to US banknotes and key industries such as cars and carpets - were unlikely to cause immediate economic turmoil.

Iran's markets were actually relatively buoyant, with the rial strengthening by 20 per cent since Sunday after the government relaxed foreign exchange rules. But a second tranche coming into effect on November 5 covering Iran's vital oil sector, could be far more damaging - even if key customers such as China and India have refused to cut their purchases.

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Russia disappointed
Moscow: Russia said it was "deeply disappointed" by Trump's decision. The foreign ministry said it will do "everything necessary" to save the historic deal.

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