
Iran Focus
London, 19 Sep – Back in May, when Donald Trump formally announced that he would be pulling out of the 2015 nuclear deal, there was a great deal of concern that this would either dramatically increase oil prices and damage the American economy or fail to stop international companies from trading with Iran and allow Iran to restart its nuclear weapons programme without oversight. As of yet, neither has happened.
Instead, Iran’s crude exports are plummeting nearly two months before the sanctions go into effect, as global oil companies – even those based in countries still committed to the deal – are cutting their ties to the country. Despite this, oil prices in the US have not risen as dramatically as was feared, essentially remaining stagnant, largely thanks to the increase in oil production by the US and other oil-producing countries.


