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Possible failure of nuclear deal unlikely to impact Iran’s Total deal – expert

27 April 2018 [13:36] - TODAY.AZ

By  Trend:

An Iranian expert believes that the possible decision of the US President Donald Trump on leaving the 2015 nuclear deal is very unlikely to leave a negative impact on the Islamic Republic’s oil deal with the French giant, Total.

"Despite the diplomatic crisis concerning the nuclear deal, I do not think that Iran’s oil contracts would face a particular problem in the future. I assume that the Total agreement will remain intact," Mohammad Ali Sadeghi, an expert on gas, oil, and energy affairs told Trend.

He further touched upon oil prices and forecasted that the oil prices will stay in the current level.

European officials have already held several talks with Tehran, Moscow and Washington as part of a drive to salvage the nuclear deal with Iran that President Donald Trump is threatening to scuttle.

So far, Iran has adhered to the terms of the nuclear deal, as verified by International Atomic Energy Agency inspectors in previous reports since the pact was implemented in January 2016.

But the economic benefits Iran is receiving in return have fallen short of expectations, even after energy and financial sanctions were lifted. Major banks and companies have avoided engaging with Iran from fear of running afoul of remaining US restrictions or seeing a "snapback" of sanctions given Trump’s threats.

Trump has told the Europeans that they must agree to "fix the terrible flaws of the Iran nuclear deal" or he would re-impose the sanctions that Washington lifted as part of the pact.

Saudi Energy Minister Khaled al-Faleh said Friday the global market has the capacity to absorb higher oil prices, drawing a swift reaction from US President Donald Trump, who accused OPEC of inflating prices.

June Brent crude on Monday dropped 79 cents, or 1.1 percent to $73.27 a barrel on ICE Futures Europe, after a 2 percent gain last week.

URL: http://www.today.az/news/regions/169450.html

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