Iranian Foreign Minister Mohammad Javad Zarif announced on April 14 that his country had set up a company to work within the framework of the INSTEX proposed by Europe (a tool for supporting trade exchanges with Iran) and informed the EU of this.

The US Treasury Department announced Friday that it had issued a new batch of anti-Venezuelan sanctions, targeting four companies and nine ships, Trend reported citing Sputnik.

Iran is a member of OPEC, for this reason all the production and export of “black gold” is controlled by quotas.

Iran must sell its oil and will sell it, and if the U.S. wants to stop the export of oil from Iran, then oil from the entire Persian Gulf will not be supplied to the market, said Iranian President Hassan Rouhani.

Turkish officials and businessmen have stated that they neither accept nor implement US sanctions against Iran, Iran-Turkey Joint Chamber of Commerce Director General of Iran-Turkey Chamber of Commerce Seyed Jalal Ebrahimi said, ISNA reported.

US sanctions will not bring Iran to the negotiating table, said Mohammad Baqer Nobakht, the head of Iran's Planning and Budget Organization.

On Nov. 6, the Turkish President Tayyip Erdogan has called the US sanctions against Iran 'wrong'.

Tehran has launched a plan to counter the negative effects of US oil sanctions, the First Vice-President of Iran Eshaq Jahangiri said Nov. 6, TASS reported.

Iran and its allies are seeking a way to defeat US sanctions, Iran's vice president, Es'haq Jahangiri, said during a meeting on November 6.

Azerbaijani experts thoroughly study the US sanctions against Iran and their possible implications for the economy of Azerbaijan, Azerbaijani Foreign Ministry spokesperson Leyla Abdullayeva told Trend.