Economy

Nuclear Deal: US can also withdraw from other agreements

Nuclear Deal: US can also withdraw from other agreements”

Sanctions on Iran will be re-instated after wind-down periods of 90 or 180 days, according to the U.S. Treasury.

"We will be instituting the highest level of economic sanctions."

It is highly likely, Khoman believes, that a special formula used for buying Iranian oil during the time of global sanctions is going to be revived.

Before that, technical officials meet in Jeddah, Saudi Arabia, on May 22-23 when the issue of whether extra barrels are needed to offset any Iranian loss will likely come up, the second source said.

"I think you have to start first with the fundamental deficiencies of the deal itself", Bolton said.

War with Iran would be comparable to the subjection of Germany at the end of World War 2, he said.

A day after the United States broke with the 2015 agreement and warned he would seek to hit European businesses that continued to trade with Tehran, the EU vowed to take steps to immunise firms from any USA sanctions.

This week's speculative buying was initiated by President Trump's decision on Tuesday to walk away from the Iran nuclear deal.

Mr Turnbull told the ABC he had "some optimism" that the nuclear agreement would survive without the participation of the United States.

US light crude was down 16 cents at $71.20, having touched a 3-1/2 year high of $71.89 on Thursday.

Oil-rich Saudi Arabia has long said it would match any Iranian weapons development, but Jubeir's renewed vow came after US President Donald Trump pulled the United States out of an accord created to prevent Tehran's alleged quest for the bomb.

USA drillers added 10 oil rigs this week, the sixth consecutively weekly addition, bringing the total rig count to 844, the highest level since March 2015, General Electric Co's Baker Hughes energy services firm said.

But he added that supporting such groups would remain a priority for Iran.

UN Secretary General Antonio Guterres has urged Donald Trump not to walk away from an worldwide deal created to prevent Iran acquiring nuclear weapons.

Russia's envoy to the European Union said Moscow would also continue its efforts to keep the deal functioning.

Moreover, an increase in supply from Saudi Arabia, for instance, to offset the declines from Iran will also translate into a shrinking volume of spare capacity.

While Israel was strongly in support of President Trump's decision, Britain, France and Germany came out against the withdrawal.

The 2015 agreement between major powers and Iran set limits on its nuclear activities in exchange for the lifting of sanctions.

Oche, however, expressed the hope that President Trump would have another look at his decision to withdraw from the deal.

"I have consistently reiterated that the JCPOA represents a major achievement in nuclear non-proliferation and diplomacy and has contributed to regional and global peace and security", Mr Guterres said. "But they were keen to stress that Trump's move had not necessarily dealt the agreement a fatal blow".



Like this

loading...
loading...

Latest


17 May 2018
Doug Ford will cancel some business grants
The federal plan is to raise carbon prices to $50 per tonne in January 1 2022, he said. "It doesn't just stop here at 4.5 cents a litre".

17 May 2018
Chelsea battle with Arsenal in pursuit of midfielder
Arsenal's director of football , Raul Sanllehi, is reportedly leading the negotiations for the Ivory Coast worldwide . The £40 million-rated midfielder is also wanted by Chelsea and almost joined Barcelona past year .

17 May 2018
Kent State graduate makes a statement with gun-toting photo
Do you not see the problem here? "Don't talk about gun control when you can't even get your facts straight", she wrote. Her tweet's caption reads, "Now that I graduated from Kent State - I can finally arm myself on campus".

16 May 2018
Ramazan moon sighted, holy month to begin tomorrow
The first fast of the month of Ramazan is likely to be observed on Thursday. In Pakistan , Ramazan usually begins a day after it starts in Saudi Arabia.

16 May 2018
Florida man dies after e-cigarette explodes
The 38 year old's vape pen was reportedly a device made in the Philippines that is unregulated and not recommended for beginners. Wilder told ABC Action News that he, as well as many other local store owners, won't sell unregulated e-cigarettes.

16 May 2018
Senate panel releases details from its Trump Tower meeting probe
The allegations, and multiple investigations into the matter, have shadowed the first 16 months of Trump's presidency. WikiLeaks has denied that Russian Federation was the source of the stolen emails.

16 May 2018
Thurman Thomas to Have His No. 34 Jersey Retired by Bills
A second-round pick in 1988, Thomas was a two-time All-American for Oklahoma State. He earned five Pro Bowl selections and won four AFC Championships with the Bills.

16 May 2018
Sports betting ruling has ripples for USA tribes with casinos
Supreme Court's decision Monday to toss the federal ban on sports gambling will let states allow the wagering. It's being called a landmark Supreme Court decision and a historic day for American sports, as the U.S.

16 May 2018
Christina Aguilera and Demi Lovato drop powerful duet 'Fall in Line'
The 37-year-old also talked about Kanye West , who has faced controversy recently for his political comments. "I signed on to a show where the blind audition element was something interesting, something genuine".

16 May 2018
'With friends like that who needs enemies': Tusk lashes out at Trump
He has made us realize that if you need a helping hand, you will find one at the end of your arm", Tusk said. Tusk's tweet, however, was one of the more notable, public denunciations of Mr.