Saturday, 18 August, 2018

Iran protesters chant anti-US slogans after nuclear deal pull out

ImagePresident Trump announced he was withdrawing from the Iran nuclear deal at the White House ImagePresident Trump announced he was withdrawing from the Iran nuclear deal at the White House
Cecil Davis | 13 May, 2018, 01:08

Their meeting focused on the prospects of the Iran nuclear deal after the USA withdrawal from it, according to a statement by the Russian Foreign Ministry.

He said that the lifting of sanctions meant that Iran had $100bn (£74bn) to use "as a slush fund for weapons, terror, and oppression" across the Middle East.

The JCPOA deal, signed by Iran and P5+1 powers (China, France, Russia, the United Kingdom, the U.S., plus Germany) in 2015 after years of hard negotiations, saw worldwide sanctions on Tehran lifted in exchange for Iran curbing its controversial nuclear program.

US light crude was up 10 cents at $71.46, having touched a 3-1/2 year high of $71.89 on Thursday.

There's a lot going on here so we're going to try and explain this as simply as possible.

The immediate impact is more likely to be seen in a tougher approach in Syria, where Iranian troops - sent to aid the government side in the civil war- are bombed by the Israelis practically every week.

Khamenei's comments continued on Twitter, where he took a swipe at past US presidents and said Trump's "corpse will be worm food while IRI (Islamic Republican of Iran) stands strong".

Israel is a close ally of the United States and Netanyahu was previously in favor of scrapping the deal.

Protecting the interest of its own companies that do business in Iran, the US's strongest allies UK, France and Germany pledged to preserve the Nuclear Deal, the Telegraph reports.

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Whether you agree with President Donald Trump that the 2015 Iran nuclear deal was one-sided, shortsighted, and had to go, or you agree with observers who believe that walking away from it amounts to self-sabotage, the end of that deal is now a fact of life for the United States.

"The oil supply/demand balance is roughly in balance now, but it could turn to a complete supply shortage (in case of new supply curbs)".

Iran is entirely right to condemn Trump's action. If the USA imposes sanctions on them, they've threatened "blocking" legislation that would make complying with those sanctions illegal.

Key U.S. allies like South Korea, Japan and India are already starting to seek waivers to continue importing Iranian oil without facing U.S. sanctions, according to Reuters. The Iran deal was weak, and Trump has left the door open to negotiate a better deal.

Meanwhile, the president's decision on the Iran deal has placed the USA government at odds with key European allies, including the UK, France and Germany, who described the move as regrettable.

In their joint statement, Macron, May and Merkel restated their commitment to the Iran nuclear deal and emphasised its importance for global security.

With sanctions lifted in 2016, Iran gained access to more than US$100 billion in frozen assets overseas, and was able to resume selling oil and using the global financial system for trade, according to a BBC report.

President Trump has said he'll reimpose sanctions on Iran. New Delhi must assert this and find feasible ways for financial transactions with Tehran in light of fresh USA sanctions.