Oil prices spike as US insists all countries stop Iranian imports

mm

Posted on April 23, 2019, 1:45 pm
7 mins

That will tighten oil supplies as seasonal demand picks up in the Northern Hemisphere, forcing importers to seek alternative supplies, a search made more challenging with production falling off in Venezuela and Libya because of domestic unrest and conflict.

U.S. sanctions were snapped back on Iran last year when President Donald Trump withdrew from a 2015 nuclear deal, signed by his predecessor Barack Obama, in which Tehran agreed to nuclear curbs in return for sanctions relief.

The European Union has been at loggerheads with Washington over Iran and the nuclear deal, which the Trump administration fears only delays Iran from developing nuclear weapons.

| ← Previous | | | Next → |
mm

Voice of America (VOA) is the largest U.S. international broadcaster, providing news and information in more than 40 languages to an estimated weekly audience of 236.6 million people. VOA produces content for digital, television, and radio platforms. It is easily accessed via your mobile phone and on social media. It is also distributed by satellite, cable, FM and MW, and is carried on a network of more than 2300 affiliate stations.