The Latest: US sanctions list includes sunken oil tanker

A customer looks at items at Samsung shop in an electronics shopping mall in downtown Tehran, Iran, Monday, Nov. 5, 2018. Iran greeted the re-imposition of U.S. sanctions on Monday with air defense drills and a statement from President Hassan Rouhani that the nation faces a "war situation," raising Mideast tensions as America's maximalist approach to the Islamic Republic takes hold. (AP Photo/Ebrahim Noroozi)

TEHRAN, Iran (AP) — The Latest on the situation in Iran after the re-imposition of all American sanctions on the country (all times local):

10:50 a.m.

The U.S.'s self-described "largest-ever" sanctions list targeting Iran includes an oil tanker already sunk and a bank long since closed.

Iranian Foreign Minister Mohammad Javad Zarif late Monday in a tweet called the re-imposition of sanctions a desperate move and said they target ordinary Iranians.

The sanctions by the U.S. Treasury Department target, among other things, the oil tanker Sanchi that sank in January after a week of burning off the coast of China, killing all 32 crew on board.

The list also includes Tat Bank, which was dissolved in 2012 over lack of transparency and financial charges.

———

9:30 a.m.

South Korea's presidential spokesman says the U.S. has demonstrated the strength of the two countries' alliance by allowing South Korea to continue importing Iranian crude oil products under reinstated sanctions against Iran.

Kim Eui-kyeom spoke to reporters Tuesday after South Korea was named as one of eight countries that received waivers from the United States to continue importing Iranian crude and other petroleum products without penalty.

South Korean Trade Minister Kim Hyun-chong says the waiver "opens breathing room" for South Korea's oil refining industry and companies that export to Iran.

South Korea says it can also continue exporting non-sanctioned products to Iran after the United States agreed to recognize a transaction system where local companies receive payments through two Korean won-denominated accounts that Iran's central bank opened in South Korea.

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