European Refineries Curtailing Oil Purchases From Iran

Following the decision of U.S. President Donald Trump to leave the nuclear deal with Iran, European refineries have started to reduce purchases of Iranian oil.

On May 8, Trump announced that his administration was withdrawing from the deal and re-imposing the old sanctions on Tehran.

Even though EU has emphasized its commitment to the deal, the European companies say they cannot risk their economic interests in the U.S. market by engaging in business with Iran.
— Read on

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