Iranian nuclear deal cancellation may lift oil prices 20-30%

Baku. 6 October. REPORT.AZ/ Next week, October 12, the US President Donald Trump is expected to announce that he will annul the nuclear deal with Iran. Report informs referring to The Washington Post.

According to information, Trump is expected to make a statement that Iran nuclear deal is not complying with US interests. It was said that this step would later be supported by the Congress and the process of abolishing the nuclear deal with Iran (JCPOA) would accelerate. If the deal is canceled, sanctions against Iran may be restored.

Notably, the nuclear deal with Iran was achieved in 2015 by Iran, US, China, Germany, Britain and France.

Analytical Group of Report News Agency believes, development of Iran nuclear deal will bring sanctions against Iran. This, in turn, could result in a ban on Iranian oil exports again. 

In this case, oil prices may rise up to 20-30%.