Siemens CEO: We can't do new deals with Iran

17 May, 2018, 01:22 | Author: Barbara Daniel
  • Oil hits $77 for first time since 2014 after Trump scraps Iran nuclear deal - business live

During his visit to China, Zarif is set to head a high-ranking political-economic delegation.

Iranian Foreign Minister Mohammad Zarif on Monday in Moscow said he wanted "assurances" from the deal's signatories that they would continue to abide by its terms, especially on sanctions relief for Tehran.

President Trump pulling out of the nuclear deal and Iran's missile exchanges with Israel are just ramping up the pressure in a country that's already dangerously close to boiling point.

Mohammad Javad Zarif said he was looking to see if the remaining backers of the Iran nuclear accord could "guarantee Iran's benefits" following the decision of United States President Donald Trump to pull out of the agreement.

Trump on May 8 announced his intention to withdraw from the Iran nuclear deal, calling the multilateral pact "defective at its core" and unable to fully prevent Iran from obtaining a nuclear weapon.

We should understand that the JCPOA is not just an agreement between the United States and Iran, but one negotiated alongside other members of the worldwide community including the United Kingdom, France, and Germany, along with China and Russian Federation.

European oil companies are still buying Iranian oil even after the threat of new USA sanctions, although some expect volumes to decline as banking issues hinder trade.

European countries have 60 days to provide "guarantees" to safeguard Iran's interests after the United States withdrew from the 2015 nuclear deal, parliament's website said quoting an Iranian official.

French Foreign Minister Jean-Yves Le Drian said on Tuesday the Middle East was explosive and could be on the cusp of war.

OPEC Chief issues warning on abandoning Iran deal

"We strictly conform with European Union and worldwide laws and regulations, and scrupulously respect any trade restriction that could occur from any potential global sanctions or embargo". Iran says its nuclear program is for peaceful purposes only.

"The consequences of American sanctions go well beyond goods shipped by American companies", Bolton said.

She added that measures would seek to allow Iran to keep exporting oil and for European banks to continue to operate without United States penalties.

Wang said China attaches importance to the traditional friendship with Iran, as well as the comprehensive strategic partnership between the two countries.

But Secretary of State Mike Pompeo said Washington was keen to thrash out a more wide-ranging deal with its allies as Trump said Iran had been "trying to take over" the Middle East since the nuclear agreement was signed.

His moderate government is under pressure from hardliners to show toughness in reacting to the US withdrawal from the deal.

Trump made his disdain for the Obama-era Iran deal well known from the start of his campaign for president in 2015.

Speculators are betting heavily that the sanctions will lead to supply disruptions that will make crude oil an attractive enough asset to drive prices to $80 -$100 per barrel later this year.

Mr Trump said this week that the 2015 nuclear deal which allowed for the lifting of sanctions was not tough enough on Iran.

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