Pompeo hits the road again to press allies on new Iran deal

Cartoon by Pat Bagley The Salt Lake Tribune UT

Cartoon by Pat Bagley The Salt Lake Tribune UT

She rejected the idea that a better deal could have been negotiated at the time, pointing to the support from numerous heads of state, including Russia, China, France, Germany, and the United Kingdom.

"There is also a risk of $100/bbl, as our forward balances embed OPEC "tapering" and no major drop in Iranian crude exports", said Francisco Blanch, commodity and derivative strategist at the bank said in a report published Wednesday.

As such, France, Germany and Britain said they would still adhere to the agreement. The worldwide community, especially Russian Federation and China who are closely involved with North Korea, are now unlikely to disagree with such a conclusion.

Peskov says that "it goes without saying that there will emerge a very serious situation" should America pull out of the landmark 2015 nuclear deal between Tehran and world powers.

Trump has been a vocal and persistent critic of the Joint Comprehensive Plan of Action (JCPOA), the multilateral agreement to cap Iran's nuclear program. But rather than focusing on behaving responsibly, Tehran has poured billions of dollars into military adventures overseas, spreading an arc of death and destruction across the Middle East from Yemen to Syria.

It's unclear what will happen now that Trump has pulled the US out of the accord.

Barkan said Trump's tough stance comes straight out of his book, "The Art of the Deal" and should surprise no one. It didn't bring calm, it didn't bring peace, and it never will.

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The recognition of Jerusalem and expeditious move of our embassy is a case in point - a physical demonstration of the US commitment to Israel, which is in fact a commitment to our national security interests. Pulling out of this deal has sent oil prices soaring, which rewards Iran and its equally petro-dependent ally, Russia.

US President Donald Trump signs a document reinstating sanctions against Iran after announcing the US withdrawal from the Iran nuclear deal, in the Diplomatic Reception Room at the White House in Washington, DC, on May 8, 2018. But it would really have to benefit Iran as well as the United States, a concept Trump and many America Firsters seem to have a hard time comprehending. Where this leaves James Mattis, Trump's defence secretary is unclear. That would spur the arms race that Trump fears as Iran's neighbors respond, or, worse, prompt a military strike by regional governments to pre-empt Tehran from doing so.

Trump complained that the deal did not address Iran's ballistic missile program, its nuclear activities beyond 2025 or its role in conflicts in Yemen and Syria.

Trump said his decision to leave the JCPOA was created to counter that possibility. He contended it allowed Iran to restart its nuclear program in 2025, postponing rather than permanently ending its nuclear ambitions, and that it did not affect Iran's other "misbehavior" in the region - its missile program or supporting organizations fighting elsewhere in the Middle East. It was also an agreement that was working as it was supposed to.

Despite this, Fesharaki said the near-term impact on the oil market would be limited due to a 180-day wind down period as planned sanctions are implemented.

Oil prices clocked up more multi-year highs on Thursday as traders adjusted to the prospects of renewed USA sanctions against major crude exporter Iran amid an already tightening market. "We saw the reversal of vows and lies and conspiracy from the untrusting Iranian regime". This is sure to get messy.

"He introduced a new element, the element of leverage to a stale, non-productive reality that only encouraged the Iranians to continue their incredibly risky behaviour, particularly in Syria, by threatening Israel by surrounding it with missiles and expecting us to sit there and just wait until something happens".

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