• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 6 mins Pioneer's Sheffield in Doghouse. Oil upset his bragging about Shale hurt prices. Now on campaign to lower expectations, prop up price.
  • 1 hour Tesla Launches Faster Third Generation Supercharger
  • 19 mins Passerby doused with flammable liquid and set on fire by peaceful protesters
  • 8 hours Who writes this stuff? "Crude Prices Swing Between Gains, Losses"
  • 10 hours EU has already lost the Trump vs. EU Trade War
  • 8 hours China's Renewables Boom Hits the Wall
  • 6 hours Climate Change Consensus Shifts in Wind, But Gas Is Still the Right Move
  • 13 hours Atty General Barr likely subpeona so called whistleblower and "leaker" Eric Ciaramella
  • 12 hours Joe Biden, his son Hunter Biden, Ukraine Oil & Gas exploration company Burisma, and 2020 U.S. election shenanigans
  • 17 hours Iran's Master Plan?
  • 15 hours Iran Finds New Oil Field With Over 50 Billion Barrels: Rouhani
  • 11 hours Does .001 of Atmosphere Control Earth's Climate?!

Breaking News:

Oil Rebounds On Surprise Crude Draw

Iran Close To Exceeding 2015 Deal Uranium Enrichment Level

Tanker at sea

Iran warned this weekend that it was close to exceeding the level of uranium enrichment agreed under the 2015 Joint Comprehensive Plan of Action, commonly called the Iran nuclear deal. The move, according to S&P Global Platts, aims to spur the European signatories of the JCPOA into action after they failed to find a way to continue supporting Iran after the United States pulled out of the deal last year.

"From today, we officially pass the limit of 3.67% for uranium enrichment,” Iran’s government spokesman said yesterday.

“Within a few hours, the process of enrichment more than 3.67% [purity] starts,” said the spokesman of the country’s atomic energy organization.

This would be the second time Iran has breached the terms of the JCPOA, after last week it exceeded the limits of uranium stockpiles.

The European signatories of the nuclear deal—France, Germany, and the UK—have been trying to keep Iran in line, most recently by setting up a special vehicle aimed at facilitating trade with Iran in the context of U.S. sanctions. However, the vehicle only facilitates trade in goods not covered by the sanctions, which target Iran’s vital oil sector.

Naturally, Iran has expressed its dissatisfaction with the arrangement. The country gave the EU 60 days to come up with an effective solution to its oil export problem, and the EU failed to do so.

Matters were made worse after last week the UK seized an Iranian oil tanker carrying oil to Syria, which is under EU sanctions. Before that, tension between the UK and Iran increased after the UK joined the U.S. in its conclusion that no other country but Iran “could plausibly be responsible” for the attacks on two tankers in the Gulf of Oman.

In response to the tanker seizure, Iran has threatened to seize a British tanker, with sources from the Islamic Revolutionary Guard Corps going as far as to say they could "Potentially stop any tanker headed towards the UK and sailing in the Gulf."

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Jeffrey Pickett on July 08 2019 said:
    Ohhhh, the one they never signed but still got pallets of gold and swiss francs. Try that on your next bank loan. Islam that states it is ok to mislead the infidel. How's that working out for the Kurd's and Coptic Christians? Details, details. It's that darn "carbon footprint" whatever that is....right the money.....follow the money to Bilderberg and read the articles from the "useful idiots". Remember, it's not what you know, it's what people think you know. The blind leading the blind. This isn't going to end well.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play