Fresh U.S. Sanctions Not Likely to Strangle Iran's Oil Market F.P.
By Keith Johnson
May 8, 2018
2:49 pm
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While oil-related sanctions wont kick in for six months, the oil market has been nervous about losing part of the output of one of OPECs biggest oil exporters. Iran deal jitters pushed up global oil prices above $75 a barrel at the start of the week, the highest since late 2014. After Trumps announcement, crude oil prices in New York and London fell slightly.
But there are some key differences from 2012 that make it less likely that the United States will be able to repeat the success it had last time it targeted Irans oil exports, when it knocked more than 1 million barrels a day out of the market. Most importantly, European and Asian countries that buy Irans oil arent enthusiastic about joining Washington in putting the squeeze on Tehran, because they see Iran as continuing to comply with the deal.
http://foreignpolicy.com/2018/05/08/fresh-u-s-sanctions-not-likely-to-strangle-irans-oil-market/