Less than two days before the U.S. waivers on its oil-related sanctions against Iran expire, the President of the Islamic Republic insisted that his country will continue to export its oil by all means possible. According to the Iranian President: “The Americans will see for themselves that over the next few months we will continue to export our oil. It is possible that the Americans can block a path for our oil exports but this is not the case of the Americans pressuring and closing the only door available (for Iran’s oil exports). There are six other doors available and the Americans don’t know it. We have to export our oil by all means possible within our power and stand up against them (the Americans). Of course, some countries (that purchase Iranian oil) have given in to the intense pressure from the Americans and this has encouraged the Americans to increase their efforts (to block Iranian oil exports).”
Despite Iranian efforts to bypass U.S. sanctions and reassure its people of the regime’s ability to withstand the American blow; the International Monetary Fund released a statement in which it warned of an imminent halt in Iran’s economic growth, pushing it into a deep recession, and raising its inflation towards 40 percent.