USA Sanctions Hit Asia’s Petrol Refineries

USA Sanctions Hit Asia’s Petrol Refineries

The United States plans to impose new unilateral sanctions after abandoning the agreement, which limited Iran’s nuclear ambitions in exchange for removing joint US-Europe sanctions.

New sanctions will likely include measures against Iran’s oil and shipping sectors, said Ehsan Khoman, the head of research for Middle East and North Africa at Mitsubishi UFJ Financial Group, with 180 days for those industries to adjust.

“By declaring… the US will be instituting the highest level of sanctions against Iran – adding that any country that aids Iran will also be sanctioned – President Trump is clearly articulating that he has minimal desire in an alternative agreement with Iran,” Mr Khoman said. Read More

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