Bolton: US Could Sanction European Companies Doing Business With Iran

Bolton: US Could Sanction European Companies Doing Business With Iran”

"Germany has said it will protect its companies from U.S. sanctions, Iran has said French oil giant Total has yet to pull out of its fields and all the while it seems the Chinese are ready to fill the void created by the U.S", said Greg McKenna, chief market strategist at futures brokerage AxiTrader.

President Donald Trump holds up a memorandum that reinstates sanctions on Iran after he announced his decision to withdraw the U.S. from the 2015 Iran nuclear deal, in the Diplomatic Room at the White House, on May 8. The impact will be on those remaining in the Iran nuclear deal, especially the nations which, under UN rules, are allowed to buy Iranian crude oil but could be stymied by sanctions via the US banking system.

This was part of the flaw of the deal to entice Europe and the United States into economic relations with Iran that eventually would have worked against really holding Iran accountable for violations of the deal. Iranian Foreign Minister Javad Zarif sets off on Saturday for talks in China, Russia and Europe to see what can be salvaged.

In doing so, Mr. Li was following standard Chinese practice of evading the sanctions regime by using alternative routes or establishing alternative institutions that were in effect immune.

Middle Eastern oil-producing countries have benefited this year from rising oil revenues, giving them headroom to increase spending to stimulate economies that faced austerity in the wake of the collapse of the crude price four years ago.

"Around a million barrels of oil a day is likely to disappear from global oil markets if the US sanctions on Iran bite", McKenna said. "The United States, and all of its GREAT people, should be very proud of what is now taking place in Korea!" he wrote.

Mr Trump vowed to impose "powerful" sanctions on the OPEC nation, which has the fourth largest crude oil reserves in the world. U.S. stocks are expected to open higher with Dow futures and the broader S&P 500 futures up 0.3 percent.

Since late March, Hamas has been staging weekly mass protests meant to break a stifling, decade-long Israeli-Egyptian blockade on the impoverished territory.

The OPEC report, published Monday, showed Venezuelan production at its lowest in decades and said the global oil glut had been virtually eliminated. And they found Obama's assertion that "our ability to confront Iran's destabilizing behavior is strengthened with the JCPOA and weakened without it" particularly risible. The government has identified and closed a few of these Ponzi schemes.

Iran had signed a nuclear deal with six world powers the year before, including three from Europe. President Hassan Rouhani said Sunday the country would remain in the deal if the other signatories continue to follow the agreement.

Maas acknowledged that they did not have the means to provide assurances for companies planning to do business with Iran. And the regime is becoming increasingly brazen in its aggression against neighbours - firing 20 missiles into Israel from Syria on Wednesday night.

He made the remarks in an interview with Fox News, after U.S. President Donald Trump withdrew from the deal on Tuesday.

The most obvious scenario for Israel to use nuclear weapons would be in response to a foreign nuclear attack. "Risks in the form of escalating geopolitical tensions in the Middle East and other forms of uncertainties could still create headwinds for the markets at any time".

"The extent to which we can keep this deal alive ... is something we need to discuss with Iran", said Merkel, who earlier spoke with Russian President Vladimir Putin on the issue.

"I think it will make it easier", Bolton said.

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