Minister:

Trump Statement Not to Influence Oil Market

TEHRAN (defapress)- Oil Minister Bijan Zangeneh underlined that it is unlikely that the recent anti-Iran rhetoric by US President Donald Trump would put any influence on the oil market and prices.

News ID: 66462

Date: 16 October 2017 - 16:20

"The oil market was closed on Saturday and Sunday, but it is unlikely that his speech has a determining effect on the oil price," Zangeneh said in reaction to Trump's recent statements.

He said that Iran is negotiating with foreign companies, but it seems that statement of President Trump was predictable for foreign firms.

Zangeneh expressed the hope that work can be continued firmly and achieve results.

The US president refused to certify the 2015 international nuclear agreement between Iran and the five permanent members of the UN Security Council and Germany, and warned that he might ultimately terminate it, in defiance of other world powers and undermining a landmark victory of multilateral diplomacy.

Trump said he would choose not to certify that Tehran is complying with the nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA).

While Trump did not pull Washington out of the nuclear deal, he gave the US Congress 60 days to decide whether to reimpose economic sanctions against Tehran that were lifted under the pact.

After Trump's comments, European Union Foreign Policy Chief Federica Mogherini underlined that the US president is not in a position to decertify Iran’s nuclear deal with the six world powers (the US, Russia, China, France, Britain and Germany).

Mogherini stressed that the 2015 accord does not belong to any single country, and said, "To my knowledge there is no single country in the world that can terminate a UN Security Council's resolution that has been adopted, and adopted unanimously, and implemented, and verified," she said.

The EU foreign policy chief said that it is clearly not in the hands of any president of any country in the world to terminate an agreement of this sort, adding, "The president of the United States has many powers (but) not this one."

She underlined the EU’s determination to abide by the JCPOA, noting that the bloc expects the other parties to the deal to adopt the same stance.