US sanctions politically motivated; EU support for Iran crucial
By Trend
Mohammad Ali Khatibi, Iran’s former governor to OPEC, said
Washington’s new sanctions against Iran are politically motivated,
calling the EU’s support for Iran at this juncture a crucial
factor.
"Foreign firms can continue to work with their counterparts in Iran
if Tehran and the EU governments manage to reach a general
agreement and address the concerns of investors in the oil and
non-oil sectors," Khatibi told the Trend .
Referring to impending US sanctions against Iran, he urged the
Iranian and European governments to address the investors’ concerns
and support them in the face of the US threats.
He also raised his forecast for oil prices for this year due to
rising demand and the potential for supply loss from Iran after the
sanctions come into effect.
The potential rise in oil prices will be more of a physiological
war if not accompanied by practical steps, Khatibi said.
The former Iranian envoy to the OPEC further said that Iran would
certainly find new clients for its oil if the foreign firms walk
away from their contracts.
In a speech from the White House on May 8, US President Donald
Trump accused Iran of sponsoring terrorism and seeking nukes before
announcing the US withdrawal from the nuclear agreement between
Iran and the Group 5+1 (Russia, China, the US, Britain, France and
Germany), known as the Joint Comprehensive Plan of Action
(JCPOA).
Trump also said he would reinstate US nuclear sanctions on Iran and
impose "the highest level" of economic bans on the Islamic
Republic.
The new US sanctions will take six months to kick in, but a number
of European companies have already halted their businesses in Iran
despite verbal pledges by their governments to protect them against
any fallout.
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