Iran's Rouhani hints at threat to neighbors' exports if oil sales halted

by Ben Pena July 4, 2018, 15:48
Iran's Rouhani hints at threat to neighbors' exports if oil sales halted

A fourth suspect was also arrested in France in connection to the plot authorities said was targeting the event near Paris, which was attended by U.S. President Donald Trump's attorney, Rudy Giuliani, The Guardian reported.

"It would be meaningless that Iran cannot export its oil while others in the region can". "All right, if you can do such a thing, do it and see the result!"

Rouhani didn't elaborate but when pressured in the past, Iran has threatened to close the strategic Strait of Hormuz through which one third of the world's oil supply passes.

Iran is OPEC's second-largest crude exporter with more than 2 million barrels a day and the global price of oil has always been a point of contention for U.S. President Donald Trump.

The relations between the two parties started to stir on May 8, when US President Donald Trump made a decision to pull out from the 2015 nuclear deal, officially known as the Joint Comprehensive Plan of Action (JCPOA). "Rouhani will need to press the Europeans for particular commitments beyond the warm words, and communicate his own limited domestic ability to stick with the JCPOA should the Europeans cave under US pressure".

Austria also informed Iran on Tuesday that the diplomat would be "deprived of his diplomatic status within 48 hours because of the existence of a European arrest warrant" against him, said the spokesman, Matthias Forenbacher.

Only very limited sanctions relief would be on offer as the USA pursues its goal of reducing Iranian oil revenues down towards zero.

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The Iranian government itself could get round sanctions imposed on state-owned oil producers and distributors by allowing private companies handle the sales but the US Treasury would be likely to target these outfits as state proxies.

The five countries have all said they still support the deal despite the decision to withdraw.

President Hassan Rouhani says Washington's fresh attempts to isolate Iran will "carry a heavy cost" for the U.S., and that the Iranian nation will stand even more resilient in the face of such plots.

The foreign ministers of Iran and five world powers who still party to the 2015 nuclear deal will meet in Vienna on Friday for talks on the troubled accord, Tehran and Moscow said.

Last month Rouhani visited China, while Zarif embarked on a tour of Britain, France, Germany, China and Russian Federation.

Despite the space Washington is prepared to grant these and other nations working with Iran, Hook insisted the Trump administration would not provide exemptions and was intent with fully charging forward with its current plan. Washington has since told countries they must halt all imports of Iranian oil from November 4 or face US financial measures, with no exemptions.

Since a US State Department official first told reporters on June 26 that the US was preparing to ask allies to cut their oil imports from Iran, the US market took a hit, with US crude jumping more than 8 percent. On Saturday, Trump wrote on Twitter that he had received assurances from King Salman of Saudi Arabia that the kingdom will increase oil production, "maybe up to 2,000,000 barrels" in response to turmoil in Iran and Venezuela. That's led to higher prices at gasoline pumps in the United States as it heads toward midterm elections for Congress.

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