The making of a perfect storm

About US sanctions, OPEC Plus policies and oil prices

D P Srivastava 

D P Srivastava

Iran’s president Hassan Rouhani announced on May 8 that Iran would not perform some of its obligations under the nuclear deal or Joint Comprehensive Action Plan (JCPOA) for 60 days. This is not withdrawal from the agreement. It is a temporary measure within the scope of nuclear accord, and can be reversed if EU provides sanctions relief.

As Rouhani said: "This surgery is for saving the deal, not destroying it". Rouhani’s speech came one year after US President Donald Trump’s decision to withdraw from the nuclear deal. The US administration has taken three ...

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First Published: Tue, May 14 2019. 21:49 IST