US plan to cripple Iranian economy doomed to fail: Iran's Vice President

Iran's First Vice President Es’haq Jahangiri says a recent plan by the administration of US President Donald Trump to reduce Iran's oil exports to zero is doomed to fail, because Americans ignore the country’s immense economic potentialities.

Jahangiri made the remarks while addressing an economic meeting on the role of free trade zones in helping the country skirt the unilateral sanctions imposed by Washington against Tehran, in the southern Iranian island of Kish on Monday.

"They (Americans) seek to cripple the country’s economy and pile up social pressure [on the government] through reducing the government’s sources of revenue … but thanks to plans made [to counter such measures] this move will certainly fail,” Iran's first vice president said.

The US administration said in a statement on April 22 that, in a bid to reduce Iran's oil exports to zero, buyers of Iranian oil must stop purchases by May 1 or face sanctions. The move ended six months of waivers, which allowed Iran’s eight biggest buyers -- Turkey, China, Greece, India, Italy, Japan, South Korea and Taiwan -- to continue importing limited volumes.

“The United States, Saudi Arabia and the United Arab Emirates ... along with our friends and allies, are committed to ensuring that global oil markets remain adequately supplied,” the White House statement said, adding, “We have agreed to take timely action to assure that global demand is met as all Iranian oil is removed from the market.”

Last November, the US enforced sanctions targeting the Islamic Republic’s banking and energy sector. However, it granted waivers to the eight major importers of Iran’s oil, fearing market instability.

Jahangiri further said the Iranian people have already been through many tough days, but they are still steadfast and will by no means forget injustices and pressures, adding, "They will give an appropriate response to those behind these pressures in due time."

"The Americans must consider real statistics and understand that their plans to make Iran's economy collapse are doomed to fail in view of the country's unique potentialities," he said.

The Iranian vice president noted that Tehran would export as much oil as it deems necessary and called on all officials to come up with strategies and means to find new sources of revenue for the country.

Speaking at a meeting with a large group of Iranian workers on Wednesday, Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei said the US administration’s hostile attempts to block Iran’s oil sales will lead nowhere, and that the country will export “as much crude as it needs and wishes” in defiance of American sanctions.

“In the first place, such attempts will lead nowhere, and we are capable of exporting as much oil as we need and want,” Ayatollah Khamenei said.