Iran seeks regional front against U.S. 'economic terrorism'

World
Europe

00:33

Iran's President Hassan Rouhani said U.S. sanctions were "economic terrorism," as he sought to foster a united front from visiting regional officials on Saturday.

Addressing at a conference on terrorism and regional cooperation, Rouhani said many countries had all suffered economic pressure from the United States.

"We are facing an all-out assault which is not only threatening our independence and identity but also is bent on breaking our longstanding ties," he said.

Washington has reimposed an oil embargo and other damaging sanctions on Iran since withdrawing in May from a landmark 2015 nuclear deal between Tehran and major powers.

"America's unjust and illegal sanctions against the honorable nation of Iran have targeted our nation in a clear instance of terrorism," Rouhani said.

"Economic terrorism is designed to create panic in the economy of a country and fear in other countries in order to prevent investment."

People paying for the gas at a gas station as Iran braces the restoration of U.S. sanctions on its vital oil industry, November 3, 2018. /VCG Photo

The conference in Tehran was the second annual meeting of parliament speakers focused on terrorism and regional cooperation. The first was held last December in Islamabad.

Most participating countries have faced harsh sanctions and other economic pressure as part of the Trump administration's use of trade as a diplomatic weapon.

Washington has continued to pile fresh sanctions on Russia that began over its military intervention in Ukraine, while Turkey also faced penalties this year over the detention of an American pastor.

Trump has also canceled hundreds of millions of U.S. dollars in aid to Pakistan, accusing it of failing to crack down on militancy.

Rouhani also warned Europe, which has strongly objected to the U.S. withdrawal from the nuclear deal, that much is at stake in its efforts to bypass U.S. sanctions and maintain trade with Iran.

"They should know that by sanctioning Iran, they would harm our ability to fight drugs and terrorism," Rouhani said, referring to Iran's efforts to combat smuggling, mainly from Afghanistan.

The European Union is working on a payment system, known as the "special purpose vehicle," to keep money flowing into Iran, but has struggled to find a host since many countries fear repercussions from the Trump administration.

Source(s): AFP