President Trump sees his decertification of the P5+1 nuclear deal with Iran as part of a broad increase in US hostility toward the country. The decertification obliges Congress to vote on the deal, however, and that might have a silver lining.
That’s the hope of Total S.A. CEO Patrick Pouyanne. His company is trying to make a $5 billion deal to improve South Pars gas field with Iran, and he believes it is both likely that the Senate will vote to save the deal, and that the vote would provide clarification on America’s participation.
That’s been a problem for Total and other European companies trying to make deals in Iran, as the US has repeatedly pressured European banks to block the trade deals, even though they are legal under the nuclear deal.
Under the terms of the deal, the US is obliged to let such deals happen, and both Iran and EU officials have suggested this amounts to the US “violating” the terms of the deal. If Congress upholds the pact, it may be difficult for the Treasury Department to justify continuing this policy. Even if they do, it may convince European banks that the administration’s threats don’t represent US policy.
Last 5 posts by Jason Ditz
- Iran FM Says US 'Action Group' Will Fail to Overthrow Iran - August 19th, 2018
- North Korea Praises Trump, Bashes His Critics - August 19th, 2018
- As Afghan President Announces Ceasefire, Pompeo Says 'Time for Peace' - August 19th, 2018
- Iraq Supreme Court Ratifies Election Results, Sadr Still Leads - August 19th, 2018
- Pentagon Spokesman: US to Stay in Iraq as Long as Needed - August 19th, 2018