A senior U.S. official urged South Korea on Tuesday to reduce its crude oil imports from Iran, ratcheting up pressure on Washington's close ally to help confront Tehran over its nuclear program.South Korea ...
SEOUL, South Korea (AP) -- A senior U.S. official urged South Korea on Tuesday to reduce its crude oil imports from Iran, ratcheting up pressure on Washington's close ally to help confront Tehran over its nuclear program....
DUBAI —Iran is preparing for a trade and investment boom that could reshape the region after agreeing with world powers to curb its nuclear program, paving the way for sanctions that have stifled its economy to be lifted.
Oil prices rose about 1 per cent on Tuesday, reversing early losses, after it became apparent that a nuclear deal between Tehran and six global powers will not immediately remove sanctions placed on Iranian crude exports.
A Reuters survey expected Tehran to raise exports by 60 per cent within a year.
A global deal to lift sanctions against Iran could unleash a flood of oil on to world markets by next year just as crude output recovers in Libya and Iraq, triggering a slide in prices and a major shake-up of the energy landscape.
The prospect of cheaper oil is a welcome relief for the West, but poses a major threat to Russia and a string of countries that depend on oil revenues to finance their budgets.
WASHINGTON: President Barack Obama, seeking to sell the Iran nuclear deal to skeptical US lawmakers and the American public, insisted on Wednesday that the landmark agreement was the best way to avoid a nuclear arms race and more war in the Middle East. Obama made his case in a nationally televised news conference a day after Iran and six world powers sealed an accord in Vienna to restrict Tehran's nuclear program in exchange for sanctions relief. "Without a deal," Obama said, "there would be no limits to Iran's nuclear program and Iran could move close to a nuclear bomb ...
A rising chorus of Israeli voices is again raising the possibility of carrying out a military strike on Iran’s nuclear facilities in what appears to be an attempt to draw renewed attention to Tehran’s atomic program — and Israel’s unhappiness with international negotiations with the Iranians.
ALMATY, Kazakhstan — World powers began a new round of high-level talks with Iranian officials Tuesday, trying to find a way out of a years long tussle over Tehran’s nuclear program and its feared ability to make atomic weapons in the future.
Few believe the latest attempt to forge a compromise will yield any major breakthroughs, but negotiators are optimistically casting it as a stepping stone toward reaching a workable solution.