Trump Ditches the Iran Nuclear Accord - Here's What It Means for Oil

13 May, 2018, 06:49 | Author: Kelly Blake
  • Trump Ditches the Iran Nuclear Accord - Here's What It Means for Oil

Trump may either call upon Iran and the P5+1 to sign a new agreement, or announce additional postponements for European companies working with Iran.

Iran's Foreign Minister Javad Zarif described his government's reaction to President Trump's decision on Tuesday to re-impose US sanctions on foreign companies that do business with Iran, in a statement posted to Twitter on Friday.

"I have directed the Atomic Energy Agency to prepare for the next steps, if necessary, to begin our own industrial enrichment without restriction", Rouhani said.

The IAEA has so far confirmed that Iran is adhering to its "nuclear-related commitments", although the U.S. administration questions that conclusion.

Goldman Sachs, for its part, said on Wednesday that increased geopolitical tensions in the Middle East, plunging Venezuelan production, and now the USA withdrawal from the Iran nuclear deal could push Brent Crude prices to $82.50 a barrel by the summer.

"Following the USA decision to withdraw from the nuclear agreement with Iran, Saudi Arabia is committed to supporting the stability of oil markets for the benefit of producers and consumers and the sustainability of the global economic growth", the official said.

Even before Mr. Trump announced the pullout, non-American businesses were wary about making any financial commitments in Iran, fearful of such an outcome.

More news: Hamilton consigue la pole en Barcelona, con récord de pista
More news: Guillermo Barros explotó contra Fernando Rapallini — Boca Juniors
More news: Junot Díaz, presidente del Pulitzer, renuncia tras ser acusado de agresión sexual

Analysts had little hope that opposition to the U.S. action would prevent sanctions from going ahead. Why shouldn't they be able to increase production too if Saudi Arabia is willing to? This assumes that waivers are provided like they were last time sanctions were imposed.

Mr. Trump is gambling with the future of the Greater Middle East, and nuclear war. Whether the conflict was in Iraq, Libya, Syria, Yemen or Afghanistan, the civilians and common citizens were the victims. Israeli authorities blamed Iran for a not successful rocket attack on Wednesday focused on Israeli forces in the Golan Heights.

Six countries, including the U.S. negotiated the deal: the five permanent members of the United Nations Security Council -the U.S., Britain, France, China and Russian Federation - as well as Germany. Russian Federation has also announced to keep the deal functioning. If economic sanctions are imposed, what will be the impact?

A former State Department official who worked with Johnson described him as "one of the most talented nonproliferation experts in the [U.S. government]", having served at the National Security Council and as an inspector in North Korea. Some of the possibilities are listed below.

Now, without the participation of the United States, stated Ian Bremmer, the creator and president of the Eurasia Group, a political consultancy, "it is most likely that we see military strikes". "As directed by the President, we will continue to work with nations around the world to create a new coalition to counter Iran's nuclear and proliferation threats, as well as its support for terrorism, militancy, and asymmetric weapons like ballistic missiles".

It's no secret that oil prices have been on the rise lately. Both sides may cool down and let diplomacy play its due role, and humanity may be rescued from disaster. "With God's help, we will stand up and resist until the full destruction of the enemies of Islam and the oppressed nations of the world, especially the world-gobbling America".

Recomendado:



Popular

Are Analysts Bearish Ashmore Group PLC (LON:ASHM) After Last Week?
Out of 2 Wall Street analysts rating Apollo Global Management, 2 give it "Buy", 0 "Sell" rating, while 0 recommend "Hold". The active investment managers in our database reported: 48.16 million shares, up from 47.38 million shares in 2017Q3.

En un partidazo, el bicampeón Boca y Huracán empataron 3 a 3
Ambos tuvieron posibilidades de ganarlo cuando el cansancio físico se sumó a todos los sabrosos ingredientes del partido . Ignacio Pussetto abrió el marcador para el conjunto local a los cinco minutos del primer tiempo.

FC Barcelona v Villarreal 09 May 2018 — Spanish LaLiga Report
Villarreal have again had a remarkable year, sitting in an impressive sixth place. "But still, it has been a great season". Villarreal have not beaten Barcelona since 2008 but a positive result would boost their European ambitions.

Malaysia's former PM and wife barred from leaving country
Najib said on social media earlier Saturday that he was planning to take a short vacation, but denied he was fleeing. In another tweet , Najib said he was praying that, "after this divisive period", Malaysia would unite.

Seattle committee advances $500 per employee tax on big businesses
Under the plan, businesses grossing more than $20 million annually would be subject to a $500 tax per employee. The committee passed several technical amendments which will be made this weekend.

Ya están las fechas de Shakira para su show en Argentina
Producida por Live Nation , interpretará los éxitos de su último disco, El Dorado , y los hits más resonantes de su carrera. "Esta será la primera gira latina de Shakira en 7 años".

IPL 2018: Ishan Kishan stars as Mumbai Indians overpower KKR
Lewis was dropped by Kuldeep Yadav (3/43) running backwards from square leg off Prasidh Krishna (1/41) when he was batting on 16. With 5 wins in 11 matches, Kolkata sit 5 in the points table , with just goal difference separating them from 4 placed Mumbai .

Un palestino muerto por disparos del Ejército israelí en protestas en Gaza
Yehiyeh Sinwar dijo que el acto del lunes será pacífico y no habrá armas, aunque comparó al movimiento con un "tigre hambriento".

Arsenal to name new manager before World Cup
Ever since his departure was announced, the Arsenal hierarchy has set their intentions clear on replacing Wenger. But given his inexperience, it would still be a huge surprise were Arsenal to choose him to succeed Wenger.

Tiroteo en escuela de Palmdale, Los Ángeles; un herido
La escuela envió un tuit pidiéndole a las personas que se alejen del lugar. Se reporta que hay al menos una persona herida de un disparo .