Is It Time To Freak Out About Oil Prices?

11 May, 2018, 04:22 | Author: Sheila Harris
  • Iranian MPs burn a US flag in parliament in Tehran

Former US President Barack Obama on Wednesday criticised his successor Donald Trump's "misguided" decision to withdraw from the landmark Iran nuclear deal, saying the move was a "serious mistake" that risks eroding America's credibility.

Earlier this month, Iranian President Hassan Rouhani said in a live broadcast that if President Trump follows through with his promise to pull out of the Iran nuclear deal, the United States "will surely regret it".

"I am deeply concerned by today's announcement that the United States will be withdrawing from the Joint Comprehensive Plan of Action (JCPOA) and will begin reinstating US sanctions", TASS quoted Guterres as saying.

French diplomats said Mr. Trump's decision was expected despite efforts by President Emmanuel Macron to sway the USA leader.

The leaders of France, Germany and the United Kingdom have also emphasised their continuing commitment to the agreement, which was signed in July 2015 by Iran and the E3/EU+3 (China, France, Germany, Russia, the United Kingdom and the U.S. - also referred to as the P5+1 - plus the European Union) and implemented in January 2016.

The UAE, Saudi Arabia and Bahrain announced on Tuesday their support for United States withdrawal from the Iran nuclear deal, with Riyadh's ambassador to Washington blasting Tehran's malicious behaviour in the Middle East.

In a joint statement, Mrs May, Mrs Merkel and Mr Macron said they remained committed to the deal, known formally as the Joint Comprehensive Plan of Action (JCPOA).

While it may allow Iran to continue trading with Russia, China and Europe without any restrictions, the U.S. may attempt to impose sanctions against Tehran's trading partners in order to sway their opinion and force them to withdraw from the agreement as well.

Iran's supreme leader Ayatollah Ali Khamenei reads a statement during a meeting with students
Iran's supreme leader Ayatollah Ali Khamenei reads a statement during a meeting with students

If the deal collapses completely, Iran has said it could restart industrial-scale uranium enrichment.

While U.S. flag-burning is common in Iran and harsh criticism of America has been a staple of Iranian parliamentary politics for years, it was the first time political observers could remember anything being burned inside the parliament itself.

Rather than protecting the U.S. and its allies, he said it had placed "very weak limits on the regime's nuclear activity and no limits at all on its other malign behaviour, including its sinister activities in Syria, Yemen and other places". He didn't name Trump directly, but emphasized that Iran continued to seek "engagement with the world".

"The US showed that it does not commit to global regulations", said the lawmaker who is also the spokesman for Parliament's Committee on National Security and Foreign Policy. Trump's announcement from the White House marked potentially the worst-case scenario for the relative moderate, as the country's economy continues to reel despite the deal and may further worsen.

Flake added that he fears Trump's actions will make it harder to build support from USA allies on other thorny worldwide problems.

At a press briefing, the diplomats countered criticism that Mr. Macron had been ineffective in lobbying Mr. Trump to respect the accord during a state visit to Washington at the end of April.

The people of Iran, along with the rest of the world, will now have to wait to see how their leaders react in a region that is already at war on several fronts.

Juventus one point from Serie A title
Inter have 69 points with two games left and can not be caught by AC Milan , who are nine points behind, or Atalanta, who have 59. Substitute Arkadiusz Milik nearly restored Napoli's lead in the 70th minute but his powerful effort crashed off the left post.

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