Since the USA signaled a harder line against Iran's oil exports last month, analysts have started to warn that many more Iranian barrels could be removed from the market than initially expected, and the thinning global spare capacity as Saudi Arabia and Russian Federation raise production could boost oil prices.
"The best way to fight this is that if your are not getting crude oil from Iran, then your refineries should be able to accept any kind of crude oil to refine".
In May, Trump made a decision to withdraw from a landmark 2015 agreement between Tehran and global powers that restricted Iran's nuclear program in exchange for sanctions relief.
Washington and Tehran have been trading angry threats since Sunday, when Iranian President Hassan Rouhani warned the U.S. "not to play with the lion's tail" and that conflict with Iran would be the "mother of all wars".
International Olympic Committee also said that the organisation was investing Rs. 11,900 crore in West Bengal.
"If America wants to take a serious step in this direction it will definitely be met with a reaction and equal countermeasures from Iran", foreign ministry spokesman Bahram Qassemi said.
While Iran has had a relatively peaceful history prior to the Islamic Revolution of 1979, the current government has been responsible for the export of terrorism throughout the region with its support for Houthi rebels in Libya, Hezbollah in Lebanon, its support for Hamas in the Palestinian territories, and its stalwart support for Syrian President Bashar al-Assad.
Rouhani, making his first public comments since Trump vowed Iran would suffer severe consequences for threatening the United States, brushed off the president's rhetoric as "cheap comments" and "empty threats".
In response to President Trump's tweet, Iran's Foreign Minister Javad Zarif responded on Twitter on Monday, "COLOR US UNIMPRESSED: The world heard even harsher bluster a few months ago".