Trump pulls United States out of 'horrible' Iran nuclear accord

Trump pulls United States out of 'horrible' Iran nuclear accord

Trump pulls United States out of 'horrible' Iran nuclear accord

Indian oil buyers said they can continue to make payments in euros as long as the European Union doesn't impose sanctions on the Persian Gulf state.

While anything is possible, there are several reasons why this seems unlikely.

But he was fiercely criticised by hardliners in Iran wary of opening up to the West, first for re-engaging and then for agreeing in 2015 to curb the country's nuclear program in return for the easing of sanctions. "I hope they will understand in the end that this is what needed to be done".

Scrapping US involvement could put hundreds of thousands of oil barrels at risk.

First, the U.S. could release SPR barrels to help compensate for lost Iranian production, with Iran demand also set to decline due to the sanctions. A less disciplined approach, with ambiguous United States guidance, could remove less than 200,000 bpd, he suggested. Macron said Europe will consistently try to preserve the deal. Rezaian added that he didn't see "any way out now" for those still behind bars in Iran.

There are also questions about supply dynamics, with traders suggesting that U.S. shale could fill any gap left by Iran, thereby dampening price inflation. "We need to flex our muscles a bit, no?" he said.

"We want to keep in place the controls and transparency rules", Maas said Wednesday during a news conference, adding that "it is totally unclear what the USA envisages as an alternative to the deal that prevents Iran from developing nuclear weapons while being able to verify compliance". "In the years since the deal was reached, Iran's military budget has grown by nearly 40 percent, while its economy is doing very badly".

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Outside energy, Boeing and Airbus will lose contracts worth $39 billion to replenish Iran's fleet of commercial planes, according to Steven Mnuchin, US treasury secretary.

Analysts' estimates of the possible reduction in Iranian crude supplies as a result of any new US sanctions range from 200,000 bpd to 1 million bpd. "USA exemptions will only be given to countries that substantially reduce their imports of Iranian crude". But it does deeply weaken the agreement and could open the way for the U.S.'s regional allies to take a more aggressive approach on Iran. He has moved quickly to deliver on a promise to move the United States embassy to Jerusalem, despite the vehement objections of the Palestinians who see it as deeply divisive and partisan.

In this photo released by an official website of the office of the Iranian Presidency, Iran's President Hassan Rouhani, right, shakes hands with Russian President Vladimir Putin during their meeting at the Saadabad Palace in Tehran, Iran, November 1, 2017. "Iran is expected to offer considerable price discounts to encourage China and India to import its crude".

Net U.S. crude imports fell last week by 955,000 barrels per day to 5.4 million bpd, the lowest since mid-February, the EIA data showed.

"While remaining fully committed to its obligations under the JCPOA, Iran has pursued, and will pursue the achievement of national interests; but unfortunately, the other side has not had a satisfactory performance when it comes to making good on its commitments", the Iranian president noted.

Weakened by Trump's decision, Rouhani's survival now depends on his ability to deliver some of the changes sought by his moderate supporters - without alienating Khamenei's powerful hardline allies.

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