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Iranian President Hassan Rouhani told economists at a meeting broadcast live on state television on Monday, Iran will export oil and not comply with the sanctions reimposed by the US on its key energy and banking sectors, Reuters reports.

Rouhani noted: “America wanted to cut to zero Iran’s oil sales … but we will continue to sell our oil … to break sanctions.”

Earlier today, the news hit the wires that a South Korean official said that South Korea got an exemption on  Iranian oil imports.

The US government fully reinstates energy and banking sanctions against Tehran on Monday, however, eight countries will receive temporary sanctions waivers due to their significantly reduced import of oil from Iran.