Iran gives 60 days for Iran Nuclear Agreement traditional buyers do not place orders to sell crude oil to the "grey market" May exports may fall to 500000 barrels per day-Shanghai Metals Market

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Iran gives 60 days for Iran Nuclear Agreement traditional buyers do not place orders to sell crude oil to the "grey market" May exports may fall to 500000 barrels per day

Translation 08:50:38AM May 09, 2019 Source:Huitong network
The content below was translated by Tencent automatically for reference.

SMM News: on Wednesday, in response to sanctions from the United States, Iranian President Rouhani issued a statement on the Iranian nuclear agreement, saying that Iran will stop some of its commitments to the Iranian nuclear agreement and give the parties to the Iranian nuclear agreement 60 days. In 60 days after implementing its commitments in the crude oil and banking sectors, Iran will stop implementing more commitments and will increase the level of enriched uranium, and Iran will no longer sell enriched uranium and heavy water to other countries.

Iran to stop some of its commitments to Iran's nuclear deal

Rouhani also said that Iran knows how important the Iranian nuclear deal is, and that the collapse of the agreement is dangerous for Iran and the world, so Iran will not withdraw from the Iranian nuclear agreement. Taking the first step within the framework of the Joint Comprehensive Action Plan (JCPOA), Iran is ready for nuclear negotiations and will not wage war, but will not succumb to bullying.

Unless other signatories live up to their commitments to Iran to help Iran's oil and banking sector fight US sanctions, Iran will take similar measures within 60 days of reducing some of its commitments to Iran's nuclear deal. "the Iran nuclear agreement must be a win-win agreement."

It is reported that the ambassadors of France, Britain, Germany, Russia and China received a letter from Iranian President Rouhani on the 8th, saying that Iran has reduced its compliance with some of its commitments under the agreement.

Russia accuses the United States of "unreasonable pressure" on Iran

In response, the Kremlin said on the 8th that Russia will still support the "Iran nuclear agreement," and condemned the United States for exerting "unreasonable pressure" on Iran, saying it led Tehran to suspend the implementation of some of its nuclear agreement commitments. Kremlin spokesman Peskov said on the 8th that Russian President Vladimir Putin will still support the "Iran nuclear agreement," there is no alternative agreement. " Russia will work with European countries to keep the nuclear agreement "sustainable", adding that it is too early to discuss Russia's accession to sanctions against Iran.

France wants to maintain the Iran nuclear deal, and if Iran's nuclear commitments are not complied with, the issue of reintroducing the sanctions regime will be discussed again, France's defense minister said. A spokesman for the German government said it was working to establish a special purpose mechanism to help Iranian business operate, which would take longer than expected.

Traditional buyers do not place orders to sell crude oil to the "grey market"

In addition, according to the state media Islamic Republic of Iran News Agency quoted Deputy Oil Minister Amir Hussain Zmaniniya as saying that Iran "has mobilized all resources in the country to sell crude oil in the 'grey market'." Zamania did not explain the meaning of the "grey market" or disclose details, including the volume of crude oil exports, Iraq in the "gray market" oil sales is not smuggling, but to resist illegal US sanctions.

However, Energy Intelligence, the US energy intelligence group, said there were signs that traditional buyers of Iranian crude oil did not place orders in May, so Iran's crude oil exports could fall below 500000 barrels a day in May. Analysts also expect Iran's crude oil exports to fall to just over 500000 barrels a day, down from about 1 million barrels a day in April, as governments largely succumb to US pressure. The United States has also imposed sanctions on Venezuelan oil exports, further disrupting oil supplies.

Goldman Sachs said that crude oil prices will come under downward pressure after that, and against the backdrop of considerable resistance and difficulties in "OPEC+" continuing production cuts, Brent crude will gradually fall back from its current price above $70 a barrel. It fell to an average of $65.50 a barrel in the third quarter.

Brent crude is now at 69.71 19:48 Beijing time on Wednesday (May 8).

Key Words:  Iran  crude oil  exports  the United States 

Iran gives 60 days for Iran Nuclear Agreement traditional buyers do not place orders to sell crude oil to the "grey market" May exports may fall to 500000 barrels per day

Translation 08:50:38AM May 09, 2019 Source:Huitong network
The content below was translated by Tencent automatically for reference.

SMM News: on Wednesday, in response to sanctions from the United States, Iranian President Rouhani issued a statement on the Iranian nuclear agreement, saying that Iran will stop some of its commitments to the Iranian nuclear agreement and give the parties to the Iranian nuclear agreement 60 days. In 60 days after implementing its commitments in the crude oil and banking sectors, Iran will stop implementing more commitments and will increase the level of enriched uranium, and Iran will no longer sell enriched uranium and heavy water to other countries.

Iran to stop some of its commitments to Iran's nuclear deal

Rouhani also said that Iran knows how important the Iranian nuclear deal is, and that the collapse of the agreement is dangerous for Iran and the world, so Iran will not withdraw from the Iranian nuclear agreement. Taking the first step within the framework of the Joint Comprehensive Action Plan (JCPOA), Iran is ready for nuclear negotiations and will not wage war, but will not succumb to bullying.

Unless other signatories live up to their commitments to Iran to help Iran's oil and banking sector fight US sanctions, Iran will take similar measures within 60 days of reducing some of its commitments to Iran's nuclear deal. "the Iran nuclear agreement must be a win-win agreement."

It is reported that the ambassadors of France, Britain, Germany, Russia and China received a letter from Iranian President Rouhani on the 8th, saying that Iran has reduced its compliance with some of its commitments under the agreement.

Russia accuses the United States of "unreasonable pressure" on Iran

In response, the Kremlin said on the 8th that Russia will still support the "Iran nuclear agreement," and condemned the United States for exerting "unreasonable pressure" on Iran, saying it led Tehran to suspend the implementation of some of its nuclear agreement commitments. Kremlin spokesman Peskov said on the 8th that Russian President Vladimir Putin will still support the "Iran nuclear agreement," there is no alternative agreement. " Russia will work with European countries to keep the nuclear agreement "sustainable", adding that it is too early to discuss Russia's accession to sanctions against Iran.

France wants to maintain the Iran nuclear deal, and if Iran's nuclear commitments are not complied with, the issue of reintroducing the sanctions regime will be discussed again, France's defense minister said. A spokesman for the German government said it was working to establish a special purpose mechanism to help Iranian business operate, which would take longer than expected.

Traditional buyers do not place orders to sell crude oil to the "grey market"

In addition, according to the state media Islamic Republic of Iran News Agency quoted Deputy Oil Minister Amir Hussain Zmaniniya as saying that Iran "has mobilized all resources in the country to sell crude oil in the 'grey market'." Zamania did not explain the meaning of the "grey market" or disclose details, including the volume of crude oil exports, Iraq in the "gray market" oil sales is not smuggling, but to resist illegal US sanctions.

However, Energy Intelligence, the US energy intelligence group, said there were signs that traditional buyers of Iranian crude oil did not place orders in May, so Iran's crude oil exports could fall below 500000 barrels a day in May. Analysts also expect Iran's crude oil exports to fall to just over 500000 barrels a day, down from about 1 million barrels a day in April, as governments largely succumb to US pressure. The United States has also imposed sanctions on Venezuelan oil exports, further disrupting oil supplies.

Goldman Sachs said that crude oil prices will come under downward pressure after that, and against the backdrop of considerable resistance and difficulties in "OPEC+" continuing production cuts, Brent crude will gradually fall back from its current price above $70 a barrel. It fell to an average of $65.50 a barrel in the third quarter.

Brent crude is now at 69.71 19:48 Beijing time on Wednesday (May 8).

Key Words:  Iran  crude oil  exports  the United States