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How New Sanctions on Iran Could Affect Crude Oil Prices

Gordon Kristopher
How New Sanctions on Iran Could Affect Crude Oil Prices

On May 8, President Trump announced that the United States is exiting the Iran nuclear pact. Trump now plans to impose new sanctions on Iran. On May 21, US Secretary of State Mike Pompeo announced a list of demands for Iran. The demands are a prerequisite for any new agreement. He highlighted that all uranium enrichment activity must stop. Pompeo also said that all support activities for militants in the Middle East should stop. Iran rejected the demands.