An Iranian nationwide flag flies on the Persian Gulf Star Co. (PGSPC) fuel condensate refinery in Bandar Abbas, Iran, on Jan. 9. 2019.
Ali Mohammadi | Bloomberg | Getty Photos
President Donald Trump stated Thursday any nation or individual that buys oil or petrochemicals from Iran won’t be allowed to do any enterprise with the U.S.
U.S. crude oil futures rose $1.11, or 1.91%, to $59.32 per barrel, whereas international benchmark Brent was up $1.15, or 1.88%, to $62.21 per barrel. Iran is without doubt one of the greatest oil producers in OPEC.
“Any Nation or one who buys ANY AMOUNT of OIL or PETROCHEMICALS from Iran will likely be topic to, instantly, Secondary Sanctions,” Trump stated in a submit on his social media platform Fact Social. “They won’t be allowed to do enterprise with the US of America in any method, form, or type.”
Trump has carried out what he calls a “most stress” marketing campaign towards Iran since taking workplace, which goals to utterly shut down the Islamic Republic’s oil exports. The president has accused Iran of utilizing oil income to finance militant teams all through the Center East.
Trump has additionally initiated negotiations with Iran over its nuclear program. His administration believes Iran is making an attempt to develop a nuclear bomb, an allegation that Tehran has denied.
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