Europe may face tough choices on future of Iran deal
Tuesday, June 4, 2019
Significance
Last month, Tehran announced that it would reduce adherence to certain commitments under the agreement unless other signatories afforded it the promised economic gains.
Impacts
- Global recession fears may blunt the effects of a supply squeeze caused by increased US restrictions on Iranian oil exports.
- The progress on trade talks between China and the United States could affect Beijing's willingness to comply with US sanctions.
- New US sanctions on the metals industry could damage Iran's automobile sector -- the largest buyer of local steel.
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