President Donald Trump said Thursday that any country or person who buys oil or Iran petrochemicals would not be authorized to do business with the United States
US gross oil Understanding contracts increased by $ 1.11, or 1.91%, to $ 59.32 per barrel, while Global Benchmark Brent increased by $ 1.15, or 1.88%, to $ 62.21 per barrel. Iran is one of OPEC’s largest oil producers.
“Any country or person who buys an amount of oil or Iran petrochemistry will be submitted, immediately, to secondary sanctions,” Trump said in an article on his social media platform. “They will not be allowed to do business with the United States of America in any way, a form or a form.”
Trump has implemented what he has called a “maximum pressure” campaign against Iran since its entry into office, which aims to completely close oil exports from the Islamic Republic. The president accused Iran of using oil revenues to finance militant groups across the Middle East.
Trump also launched negotiations with Iran last month on his nuclear program. His administration thinks that Iran is trying to develop a nuclear bomb, an allegation that Tehran denied. The president said he would prefer to conclude an agreement with Iran. During his first mandate, Trump withdrew the United States from the nuclear agreement negotiated with Iran by President Barack Obama.
Trump’s comments are clearly aimed at China, which imports more than one million barrels per day from Iran, said Scott Modelll, CEO of the Consulting Society Rapidan Energy. Modelle said American sanctions would have little impact on Iranian oil in China unless the White House targets businesses and public infrastructure in Beijing.
Thursday, the president’s statements “do not mean a change in the will of the administration to conclude a new agreement with Iran, but rather underline Trump’s belief in force negotiations,” a former CIA officer told CNBC Model.
