Sanctions will hit Iran in big way from Nov-5: Trump

Talking about the Iran nuclear deal, Trump said, "Iran is a much different country since I terminated that deal. That was one of the most ridiculous deals ever made by any country, at any time."

"They're very serious sanctions. They'll be elevated from there. But, as you know, sanctions are starting on Iran and, Iran is taking a very big hit," he said.

In May, Trump pulled the US out of the 2015 Joint Comprehensive Plan of Action (JCPOA) terming it "disastrous".

Under the deal, Iran agreed to stop its nuclear programme in exchange for relief from economic sanctions.

After the US's withdrawal, Trump signed fresh sanctions against Iran and warned countries against any cooperation with Tehran over nuclear weapons programme.

However, Iran denied all these charges.

Earlier in an interview, US Secretary of State Mike Pompeo alleged that Iran was the world's largest state sponsor of terror.

"We're trying to change the ayatollah and Qasem Soleimani's behavior to keep the American people safe and secure. That's the mission, these sanctions are a part of our effort, and they're already being felt by the Iranian leadership," he said.

On Monday, November 5, the US will not only be re-imposing the sanctions, but there'll be over several hundred designations, Pompeo said.

"We will ultimately move Iran to zero crude oil. That'll take some time. We've been able to do that in a way that hasn't had a huge impact on crude oil prices. That's a good thing for American consumers," he said.

However, the US is expected to give a short-term waiver to eight countries which could include India because of its commitment to significantly reducing the import of oil from Iran.

The waiver, granted for six months, would be re-evaluated by the US, Special US Representative on Iran, Brian Hook said.

These eight countries are among the top 20 oil-importers from Iran, he told reporters.