Iran says United States exit from deal will not impact its oil

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Trump long complained about the deal and said Tehran was violating the "spirit" of it by continuing to test ballistic missiles and by supporting militant activities in the region, leading him to withdraw from the pact on May 8.

The U.S. Treasury said on Tuesday that the United States would reimpose a wide array of Iran-related sanctions after the expiry of 90- and 180-day wind-down periods, including sanctions aimed at Iran's oil sector and transactions with its central bank.

But we still don't know how the other nations in the Iran deal will respond - new USA sanctions might not scare off countries like Russian Federation and China from buying Iranian oil.

The Iran nuclear agreement, known as the Joint Comprehensive Plan of Action (JCPOA, ) signed by Tehran and the five permanent members of the UN Security Council - the US, France, Britain, Russia and China - plus Germany on July 14, 2015, imposes strict restrictions on Iran's nuclear program in return for the loosening of economic sanctions.

It is "possible" the USA may impose sanctions on European companies that keep doing business with Iran, national security adviser John Bolton warned Sunday on CNN's "State of the Union".


With the world in a "state of chaos", she said the European Union needs to control tensions by preserving the Iran deal.

Japan, for its part, has joined the European signatories in the Iran deal in condemning the U.S. President's decision.

These questions get at the heart of whether the Iran nuclear deal can continue without the support of the US.

In response to what Israel has described as its aerial assaults on Iranian bases in Syria, Ayatollah Khatami also said that Iran would "rob the Israeli regime of sleep" and threatened to "raze Tel Aviv and Haifa to the ground".

Despite the USA exit, Britain and Iran on Sunday expressed their commitment to ensuring that the accord is upheld, according to a statement released by British Prime Minister Theresa May's office. "I don't trust these three either and you should not trust them". Zanganeh said foreign investment was needed to develop Iran's its oil industry, but that it could survive even if foreigners chose to stay away for fear of US penalties.


Le Maire proposed creating a European body that would have the same kind of powers that the U.S. Justice Department has to punish foreign companies for their trade practices.

The US withdrawal from the Iran deal has upset Washington's European allies, cast uncertainty over global oil supplies and raised the risk of conflict in the Middle East.

Goldman Sachs Group Inc. predicts that Brent will rise to $82.50 a barrel in the coming months, and says there's a chance prices could surpass that level, but sees oil subsiding again in 2019.

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

Mogherini launched a thinly veiled verbal assault on the US President as she set out her determination to save the Iran nuclear deal during an address in Florence today.


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