Oil leaders are Leaving Iran

ArticleEnergyJune 4, 2018 - 4:39:57 AM

The Major oil producers are fleeing Iran because of US sanction fears.

The American sanctions threat has led Russian oil giant Lukoil to stop its plans to expand projects in Iran, while the Indian firm which has the world's biggest oil refining complex plans to stop purchasing oil from Iran.

This situation showed the challenges faced by governments like France, Russia or India who want to continue their business relations with Iran in spite of the US decision about the Iranian nuclear deal.

The US government recently announced that it is giving up the 2015 agreement and wants to restore important sanctions, which were previously removed under the agreement with Iran in exchange for the reduction of nuclear activities...


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