US trying to reduce Iran's resources through punitive sanctions: Pompeo

US Secretary of State Mike Pompeo said on Monday said, the US through its wide range of punitive sanctions is trying to reduce the resources of Iran. Alleging to curb terror activities, the sanctions are aimed to prevent Tehran from holding nuclear weapons, Pompeo said. “We are trying to reduce their resources to conduct terror campaigns all around the world, build out their missile systems and their nuclear programme, and we’ve been incredibly effective at that,” Pompeo said.

Referring to the earlier skepticism that American sanctions alone won’t work, he asserted that this has worked. We have taken over 95 per cent of the crude oil that was being shipped by Iran all around the world, and we have taken it off the market, he said.

Earlier, Donald Trump had imposed "hard-hitting" sanctions on Iran. Trump's move to impose fresh set of sanctions on Iran comes days after Tehran said it shot down an American drone in the region on Thursday. However, Trump denies the drone, valued at more than USD 100 million, violated Iranian airspace, saying he backed away from planned strikes after learning that 150 people would be killed in the military action.

Tensions have been escalating between the United States and Iran since Trump last year withdrew the US from a global nuclear deal with Iran and re-imposed economic sanctions on Iran.

Iranian President Hassan Rouhani said had also said, Tehran is ready to talk to the United States if sanctions imposed are lifted. "We have always believed in talks ... if they lift sanctions, end the imposed economic pressure and return to the deal, we are ready to hold talks with America today, right now and anywhere," Rouhani said.

Reacting to this, Pompeo said, “President Trump will obviously make the final decision. But this is a path that the previous administration had gone down and it led to the (Iran nuclear deal) which this administration, President Trump and I both believe was a disaster.”