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Because of sanctions against Iran, the price of oil for the first time in 4 years exceeded $85

on Tue Oct 02, 2018 1:03 pm
World oil prices continue to grow. In particular, Tuesday, October 2, the price of Brent oil for the first time since 2014 exceeded $85 per barrel.

This was reported by Reuters.

As noted, on the eve of the price of Brent oil rose to $85.45 per barrel. This is the highest price since November 2014.

The main reason for the growth of world prices for energy remains the steadfast position of US President Donald Trump in resuming sanctions against Iran, in particular on the issue of a ban on trade in Iranian oil.

Although the EU was reported to have developed a separate mechanism that would avoid US sanctions on companies trading with Iran, most investors and traders are still inclined to avoid oil trade with that country.

In addition, because of US sanctions and fears about losing Iran's oil, world oil prices are rising rapidly . Thus, Brent's oil has already been traded for more than $80 a barrel - at the 2014 price level.

Recall that on May 8, US President Donald Trump said that the United States will withdraw from an agreement on the Iranian nuclear program and resumption of sanctions against Iran.

Iran called the US withdrawal from the nuclear program "illegal".

The EU is concerned about the release of the United States on the nuclear deal and the announcement of new sanctions against Iran.

The UN is "deeply disappointed" with the US withdrawal from a nuclear deal with Iran.

Earlier, Israeli Prime Minister Benjamin Netanyahu had announced the disclosure of "secret documents" , according to which Iran violated the nuclear deal and continued to develop weapons. After that, Israel turned troops into a state of increased combat readiness due to the Iranian activity in Syria.

The White House supported the statement by the prime minister of Israel that Iran had violated the nuclear deal.

Later, French President Emmanuel Macron and US President Donald Trump have announced plans to work out a new agreement on Iran's nuclear program .

Iranian President Hassan Rouhani has warned the United States that they will face a "big regret" if Donald Trump withdraws from the 2015 nuclear deal.

In connection with the restoration of US sanctions, the cessation of commercial projects in Iran said the French energy company Total, as well as the two largest European airlines . At the same time, the European Commission announced the allocation of EUR 18 million in financial assistance to Iran.

In addition, the Iranian government signed an agreement on military cooperation with the Assad regime in Syria.

In 2015, Iran entered into an agreement with the US and the leading countries to refuse to develop nuclear weapons in exchange for lifting some economic sanctions, including the ban on international oil trade.

The governments of the leading European countries consider the agreement with Iran an important condition for international security.

At the same time, a number of countries, in particular the current US and Israeli administration, express fears that the agreement does not provide firm guarantees for Iran's refusal to develop nuclear weapons.

hromadske.ua  In Ukrainian/український
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