Iran’s oil company has pulled out of a $5 billion deal to\ndevelop part of Iran’s huge offshore natural gas field, an agreement the French\ngovernment earlier withdrew because of US sanctions on Iran, the Oil Ministry\nsaid on Sunday.<\/p>\n\n\n\n
The deal with France, signed in the wake of Iran’s 2015\nnuclear deal with world powers, appears to be only a final trade loss in the US\npressure on Tehran following US President Donald Trump’s unilateral withdrawal.<\/p>\n\n\n\n
With the escalation of the special trade war between China\nand the United States, Beijing and Washington impose tariffs on other country’s\ngoods in the billions of dollars. The Chinese National News Agency quoted the\nChinese oil minister as saying on Sunday that the Chinese oil company is no\nlonger part of the project, and did not put or give any reason for the\nwithdrawal.<\/p>\n\n\n\n
Officials in Beijing did not immediately acknowledge their\ndecision. However, Iranian Foreign Minister Mohammad Javad Zarif on Sunday\nseparately complained about the US campaign against Tehran and its impact on\nforeign investment. “We have been facing plenty of problems in the field\nof investment because of the US maximum pressure policy.”<\/p>\n\n\n\n
After withdrawing from the nuclear deal with Tehran more\nthan a year ago, the Trump administration imposed sanctions on Iran that\nprevented it from selling its oil abroad and paralyzed its economy. Iran has\nsince broken the terms of the deal.<\/p>\n\n\n\n
There have been a series of attacks across the Middle East\nas the United States blames Iran. Tensions peaked on September 14 with a\nmissile and drone attack on the world’s largest oil processor in Saudi Arabia\nand an oilfield, pushing oil prices to their highest price since the 1991 Gulf\nWar. Yemen attack, Saudi Arabia says it was “undoubtedly sponsored by\nIran.”<\/p>\n\n\n\n
Iran denies responsibility and has warned that any\nretaliatory attack against it would lead to a “all-out war.”<\/p>\n","protected":false},"excerpt":{"rendered":"
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