US sanctions on Iran's oil violate international rules

The US decision on Monday to not reissue the sanction waivers allowing major importers to continue buying oil from Iran after they expire in early May is a grave challenge to global rules and norms.

The new US sanctions, first announced last year after it withdrew from the landmark Iran nuclear deal, are an act of total defiance against the United Nations, which endorsed the Joint Comprehensive Plan of Action reached by China, Russia, France, Britain, Germany, the European Union and the United States itself in 2015.

It shows how the world's only superpower is willing to abuse its financial power to disrupt not just the Iranian economy but also economies around the world, and hamper free trade.