Here`s the biggest political risk for the oil price right now

by Dramelin 2:00 AM 0 comments

Iran responded by cautioning the U.
S.
against any hostile actions.
Iran`s oil industry, which represents the lifeblood of its economy, had suffered greatly by the cumulative impact of previous sanctions from the U.
S.
Trump`s administration described the new penalties as "initial steps" and warned that Washington would no longer turn a "blind eye" to what it perceived as hostile actions from Tehran.
"The risk for a sanctions snapback is real given the certification and waiver structure of U.
S.
sanctions relief," the team, led by Helima Croft, said in a note published Friday.
However, the Barack Obama administration agreed to lift these sanctions in January 2016 and signed a Joint Comprehensive Plan of Action (JCPOA) with Iran shortly before Trump became president.