France's Macron says Trump made a mistake by leaving JCPOA

France's Macron says Trump made a mistake by leaving JCPOA

Trump on Tuesday pulled out of an worldwide nuclear deal with Iran agreed on in late 2015, casting uncertainty over global oil supplies at a time when the crude market is already tight.

"So I think we now have the opportunity to move forward to address those shortcomings and make it more compelling". You can count on Russian Federation and China to push back if the U.S. blackballs their companies for trading with Iran, but will the British, French and German governments also do so?

SIMON GASS: Yeah. Thank you, David. He spent more than a year studying the deal, soliciting information and assessments from within his administration and consulting with our allies.

"Trump's decision will not have any impact on our oil export. that era is history now", he told state television.

"The objective of the process is to bring the United States into compliance", Zarif said at the time.

"We believe the deal does not deal with Iran's ballistic missile program nor does it deal with Iran's support for terrorism". And this agreement managed to halt that program in its tracks and delivered what it said on the tin.

Former President Barack Obama, whose administration negotiated the deal, called Trump's action "misguided" and said, "The consistent flouting of agreements that our country is a party to risks eroding America's credibility and puts us at odds with the world's major powers". Closer economic partnership with Israel will only increase America's prosperity, which, as President Trump has pointed out, leads to greater security. But there's clearly a wider issue which is around Iran's behavior in the region. "And the Iranians must be held accountable for this", al Jubeir continued. "But it seems like the only other alternative is military action". You're saying that some of his complaints or all of his complaints would not be that hard to address.

Kerry told a conference on food innovation that "dangerously, we find ourselves today with certain individuals who are talking about a new arms race", and that the money it will cost "should be going to health and going to building schools and going to building infrastructures and building the future, instead building weapons".

GASS: Well, you know, those discussions have been going on, David, for a number of months now, but they haven't arrived at a satisfactory conclusion.

Iranian crude oil has landed an unlikely buyer in the South American country of Chile that occasionally buys Middle Eastern crude, shipping and trading sources told Platts on Thursday, two days after the USA withdrew from the Iran deal and said it was re-imposing sanctions on Iran, including on its energy sector and crude oil sales.

These secondary sanctions may actually be illegal under worldwide law, but that has not stopped the U.S.in the past (Cuba, Venezuela, etc.) and it won't do so now.

The head of Iran's Revolutionary Guard, General Mohammad Ali Jafari, said the decision showed the US was "not trustworthy".

Since the sanctions were lifted in 2016, major European companies, partly wary of the remaining USA sanctions on Iran, have been reluctant to do business with Tehran, which needs to attract over $100 billion in foreign investment to boost its crude output.

GREENE: What are the implications if you have European corporations? I'm thinking like the French oil firm Total.

But what will it mean for your business?

That is because doing put them at risk of U.S. sanctions and hefty penalties.

In the wake of new USA sanctions, some buyers of OPEC's third-largest oil producer said on Wednesday they would seek US exemptions to purchase Iranian crude. They might seek to set up credit lines which are independent of the dollar. It will also shift the policy debate among Iran's elites, who have for several years argued over the merits of dialogue with the United States. And without banks willing to finance deals, commerce won't get very far. Should Congress reinstitute sanctions, Iran will undoubtedly speed towards nuclear weapons, putting us on the path to war. "To say a better deal could have been possible is looking in the past". The ban will also hit Europe's Airbus, whose planes contain US-made parts. According to foreign media reports, Iran - which had in 2015 reached a pact with five permanent members of the UN Security Council (US, UK, Russia, France and China) and Germany - had then "agreed to significantly slash its stores of centrifuges, enriched uranium and heavy water, all key components for nuclear weapons". Now, that makes it very hard.

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