Did Trump Just Kill The OPEC Deal?

14 May, 2018, 18:16 | Author: Carlos George
  • Iran nuclear deal Trump

Iranians have taken to the streets across the country to vent their anger at the United States over its withdrawal from a 2015 nuclear deal and President Donald Trump's incendiary rhetoric against Tehran.

But we still don't know how the other nations in the Iran deal will respond - new USA sanctions might not scare off countries like Russian Federation and China from buying Iranian oil.

"This administration remains committed to putting the safety, interests, and well-being of our citizens first", Mattis said.

But the president's move frustrated USA allies in Europe, as well as Iran, which accused the Trump administration of backing down from Washington's commitments.

The deal asks Iran to limit its nuclear program in return for the lifting of economic sanctions the worldwide community imposed on the country.

Or scuttling the deal could unleash Iran's drive to build a nuclear weapon and trigger a military conflict.

It could also mean that while President Donald Trump pulled out of the Iran deal, he has stopped short of blowing it up altogether.

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President Trump is abandoning the Iran nuclear deal, with nothing to replace it.

His comments come after Mr Trump pulled out of the Joint Comprehensive Plan of Action, set up to prevent Iran from fulfilling their nuclear ambitions whilst removing US, UN and European Union imposed sanctions. Friendlier friends. Sure, it's fun in a fit of pique to storm off, but that strategy - say after an argument with your spouse - can leave you roaming around at night with no vehicle, no wallet and nowhere to go. Trump's own secretary of state, Mike Pompeo, said as much just last month. "What if then the commission rules against the U.S.?"

If Europe ignores the United States ... Its collapse and the potential for tensions to escalate poses a major security threat to the Middle East, which European leaders want to avoid. From a purely economic point of view, Europe might not find it worthwhile to confront the U.S. over Iran, as it will be costly to oppose the United States secondary sanctions. "I just don't think that it's a wise move", Arizona Republican Senator Jeff Flake told CNN, adding that it makes the USA less reliable in the eyes of both its partners and adversaries.

"I believe the USA position on this is precisely [intended] to ignore the council", one senior European diplomat says. We know that the plan's diplomatic approach slowed Iran's nuclear program, although it may not have stopped it completely.

Meanwhile, for nations contemplating striking their own sensitive deals with Trump, such as North Korea, the withdrawal will increase suspicions that they can not expect lasting US fidelity to worldwide agreements it signs.

Either way, to the extent that the Trump administration succeeds in knocking a significant chunk of Iranian supply offline, it would dramatically accelerate the timeline of the phase out of the OPEC agreement.

French President Emmanuel Macron also urged Europe on the same day to unite and exert a self-confident "European sovereignty" in the face of an increasingly complex world and unilateral American moves on issues such as the Iran nuclear deal and climate change. The Treasury Department said in a statement Thursday it took joint action with the United Arab Emirates against nine Iranian individuals and entities involved in the network, and threatened sanctions against any other companies that help those nine.

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