PM and Donald Trump discuss impact of US sanctions on Iran

13 May, 2018, 01:02 | Author: Mable Gonzales
  • IRAN: Wild protests in Tehran over US decision to pull-out of nuclear deal

U.S. President Donald Trump said on Tuesday the United States was exiting an global nuclear deal with Iran and would impose new sanctions that seek to reduce oil exports from OPEC's third-largest producer.

Another positive sign for the Russian economy is the rise in oil prices, which rose to their highest level since 2014 after the United States withdrawal from the Iran deal.

French Finance Minister Bruno Le Maire said Friday on Europe-1 radio that Europe should not accept that the U.S.is the "world's economic policeman".

The leaders of Britain, France and Germany tried but failed to persuade Trump to stick with the deal. Iran has become a new voice for moderation in oil markets, with the minister saying Sunday that a "suitable price" is $60 to $65 a barrel - below the reported $80 that the Saudis are seeking.

Circumventing sanctions against Tehran worked even at a time when Russian Federation and China both agreed with isolating Iran to some extent over its nuclear program, prior to the 2015 deal.

Merkel said Friday the unilateral USA withdrawal undermines confidence in the global order, but that it wasn't enough to abandon decades of cross-Atlantic cooperation.

Saudi Arabia, for instance, has the ability to crank up output.

His decision does not preclude the Palestinians having a capital in eastern Jerusalem one day, but makes clear that Israel is not going to disappear because its enemies wish it so. The grouping includes Kazakhstan, Belarus, Armenia and Kyrgyzstan.

"The Prime Minister raised the potential impact of United States sanctions on those firms which are now conducting business in Iran".

"This deal is not a bilateral treaty".

Lewis Hamilton and Mercedes on top in crash-hit Spanish GP practice
Hamilton will be trying to win his second race in a row and add to his four-point lead over Vettel in the drivers' standings. Haas maintained their improved performance from practice with Kevin Magnussen the lead midfield runner in seventh.

Some now say the logic of Trump's "maximum pressure" tactics leads not to a new quest for an accord but an attempt to crush Iran's already weak economy and to topple its regime.

She called for calm on all sides.

In an open reference to Trump, Mogherini says: "It seems that screaming, shouting, insulting and bullying, systematically destroying and dismantling everything that is already in place, is the mood of our times".

Europe's options, however, are limited.

Most analysts believe that at least some nations will ignore the new American sanctions and continue buying Iranian crude. While some US allies such as Japan and South Korea will likely opt not to anger their Big Brother and stop importing oil from Iran, others, such as China and India, will continue buying Iranian crude as they are not dependent on the United States for their national security.

Planemakers Airbus and Boeing, oil companies and auto manufacturers like France's Renault and Peugeot could be among companies hardest hit.

"At the end of May I will meet with the British and German finance ministers and the three of us will look at what we can do".

However, Le Maire acknowledged he has "no illusions" that he'll get what he asked for.

And this coming Monday, the USA will relocate its embassy to Jerusalem, fulfilling a campaign promise that many have made but only Trump has kept.

"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".

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