The Morning After: How The World Reacted To Trump's Withdrawal From The Iran Nuclear Deal

One day after Trump announced he will withdraw the US from Obama’s landmark 2015 deal to curb Iran’s nuclear program while reinstating the “harshest of sanctions” on the Persian Gulf country, and giving US allies 180 days to extricate themselves from Iranian oil deals as it seeks to economically isolate and curb oil exports from the #3 OPEC producer, this is how the world and capital markets are reacting.

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This following summary, prepared by Bloomberg, includes reactions from governments and companies in Europe and Asia, market impact and views from analysts.

EUROPEAN GOVT REACTIONS:

  • U.K., France, Germany say they will remain parties to Iran deal
    • Trump’s envoy in Berlin stokes furor over Iran 1 day into role
    • U.K.’s Johnson: Iran deals doable without violating U.S. sanctions
  • EU fights to keep Iran nuclear deal alive after Trump’s exit
    • EU vows to protect its economic investments, interests in Iran
  • Spain will defend Iran treaty with European partners, Rajoy says
  • IAEA inspectors say Iran still sticking to nuclear commitments
  • Putin warns of “fragile” world a day after Trump exits Iran deal
    • Russia deeply disappointed by U.S. pullout from Iran deal
  • EU plans to shield its companies if Trump ditches Iran deal

EUROPEAN COMPANY REACTIONS:

  • Spain’s Cepsa will switch from Iran crude in event of sanctions
  • Poland’s Lotos says Trump decision on Iran is “neutral” for co.
  • Poland’s Orlen says its delivery terms are flexible
  • Maersk CEO says fallout of Iran decision is unclear
  • Serica looks at implications for North Sea Rhum field
  • European cos that rushed into Iran now prepare to rush back out
  • April 19: Total CEO to stop Iran project if no U.S. exemption

ASIAN GOVT REACTIONS:

  • Trump seen facing rebellion from Iran’s biggest oil customers
  • China expresses regret over U.S. decision on Iran
  • Japan to seek waiver from U.S. Sanctions on Iranian crude
    • Japan will work to maintain Iran deal: foreign minister
  • S. Korea to seek exemption from U.S. sanctions on Iran oil
  • India sees oil supply from Iran constrained after U.S. sanctions

ASIAN COMPANY REACTIONS:

  • Indian refiners say they’ll look to keep paying Iran in euros
  • Taiwan’s CPC watching crude prices closely on Iran sanctions
  • Taiwan’s Formosa can replace Iran oil with other Mideast supply
  • Fuji Oil says undecided on how to respond to U.S.- Iran sanctions
  • Japan’s Jera says Iran sanctions impact may spread to LNG market

MARKET/PRODUCER/SUPPLY REACTIONS:

  • Oil rises as Trump tells buyers to cut back on Iranian crude
  • Ship insurer group sees big impact from Iran sanctions
  • Here’s how the biggest oil buyers can tackle Trump’s Iran action
  • U.S. seeks to quickly curb Iran oil after scrapping deal
  • China oil futures trade volume rises to record on Iran sanctions
  • IEA says it stands ready to ensure oil market is well supplied
  • Saudi Arabia ready to “mitigate” impact of Iran sanctions
  • Dubai refiner’s supply dilemma deepened by Trump Iran deal exit
  • Kuwait to help mitigate any shortage in oil supply: minister

ANALYST VIEWS:

  • EA: Saudi output to rise if Iran sanction losses significant
  • Bernstein: Oil could rise toward $90 after move on Iran deal
  • Orient: China may be cautious in opposing U.S.-Iran sanctions
  • UBS: Iran oil exports may fall by 200k-500k b/d in next 6 months
  • Barclays: Iran output seen unaffected in 2018 by Trump move
  • Drewry: Sanctions on Iran may create space for shale exports
  • “Disaster” for Asia if U.S. sanctions Iran condensate
  • CICC: U.S. sanctions on Iran to keep Brent around $75- $80
  • OANDO: Oil price volatility to continue on U.S. Iran deal exit
  • EIG: U.S. exiting nuclear deal may remove 700K b/d of Iran oil
  • MUFG: China may keep Iran crude imports despite U.S. sanctions

REACTION FROM WITHIN IRAN:

  • Barbs, flag burning and despair: Iran reacts to U.S. deal exit
  • Rouhani: Iran to Prepare for Enrichment if Needed After 3 Weeks
  • Rouhani: Iran Can Achieve Benefits of JCPOA With 5 Countries

Source: Bloomberg

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Author: HEDGE

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