Arab League calls for 'revision' of Iran nuclear deal

10 May, 2018, 14:23 | Author: Lynne Higgins
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Despite US criticism that the accord does not go far enough in monitoring Iran's nuclear activities, the IAEA points to the fact that its inspectors have spent 3,000 man days per year on the ground in Iran.

The sanctions could impact Iran's ability to export oil.

Saudi Arabia applauded Trump's announcement, but said it would seek to develop its own nuclear weapons if Iran does.

His comments came after Trump defied the wishes of the other parties to the nuclear deal - France, the UK, Germany, Russia and China - by announcing the United States would pull out of the accord and impose new sanctions on Tehran.

Saudi Arabia "will work with major producers and consumers within and outside OPEC to limit the impact of any supply shortages", a Saudi energy ministry official said on Wednesday, according to state news agency SPA.

The recent upswing in prices - which has almost tripled crude values from lows hit in early 2016 - has led to speculation that the output curbs will soon be lifted as countries reliant on oil revenue seek to boost their coffers by raising their exports.

Trump's claim that his withdrawal decision from the Iran deal will strengthen his hand in negotiating a better Iran deal is yet to be proven.

On Tuesday, US president Donald Trump said the United States would pull out of the JCOPA, saying that one-sided deal that should have never been made and that it has not, and will never, bring peace.

China's demand to foreign airlines 'Orwellian nonsense'
Unlike self-ruled Taiwan, Hong Kong and Macau are Chinese territories operating with some degree of autonomy. Also on Saturday, Secretary of State Mike Pompeo spoke with a member of the Communist Party leadership.

China's foreign ministry said Beijing would defend the deal and urged parties "to assume a responsible attitude".

Middle East analyst James Dorsey, a senior fellow at Singapore's S. Rajaratnam School of International Studies, said any economic showdown will force Gulf states to weigh their responses.

Washington's allies may find formulas to avoid sanctions exposure.

Trump has consistently been a harsh opponent of the Iran deal, calling it "the worst" and "defective at its core". The JCPOA is in America's interest - it has significantly rolled back Iran's nuclear program.

Trump said his decision to leave the JCPOA was created to counter that possibility.

For Saudi Arabia, that is "fine" because it means the return of sanctions and ratcheting up pressure on Iran in the region, including by Israel.

This source had also said the impact of USA sanctions on Iranian supplies needed to be assessed first and Saudi Arabia did not expect any physical impact on the market until the third or fourth quarters.

"These missiles are Iranian manufactured and delivered to the Houthis".

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