Trump says any nation that buys oil from Iran may not be allowed to do industry with U.S.

President Donald Trump mentioned Thursday any nation or person who buys oil or petrochemicals from Iran may not be allowed to do any industry with the U.S.

U.S. crude oil futures rose $1.11, or 1.91%, to $59.32 in line with barrel, whilst world benchmark Brent was once up $1.15, or 1.88%, to $62.21 in line with barrel. Iran is among the largest oil manufacturers in OPEC.

“Any Country or person who buys ANY AMOUNT of OIL or PETROCHEMICALS from Iran will be subject to, immediately, Secondary Sanctions,” Trump mentioned in a put up on his social media platform Truth Social. “They will not be allowed to do business with the United States of America in any way, shape, or form.”

Trump has carried out what he calls a “maximum pressure” marketing campaign towards Iran since taking workplace, which targets to fully close down the Islamic Republic’s oil exports. The president has accused Iran of the use of oil earnings to finance militant teams all over the Middle East.

Trump has additionally initiated negotiations with Iran over its nuclear program. His management believes Iran is attempting to broaden a nuclear bomb, an allegation that Tehran has denied.

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