europe oil

Despite the US’s decision to brand Iran’s revolutionary guard as a “terrorist organization,” the Europeans continued to “encourage all countries” to make their “best efforts” to engage in legitimate trade with Iran.

Europe is energy addicted to the likes of Iran and Russia. And it won’t end well for them. With all their green environmentalism, it’s impossible for them to produce energy, a lesson for the USA if the “green deal” is imposed on us here.

Still, it is primarily RUSSIA who supplies Europe with Oil and Gas. But Europe, beholden to Russia, cannot turn its back on Iran. And that’s the real issue.

The US’s decision to crack down on remaining Iranian oil  exports, combined with the turmoil in Venezuela and Libya, could send oil prices higher (though the Trump administration has sought to offset this by recruiting Iran’s regional rivals to increase their output). The rising tensions between Iran and Saudi Arabia have prompted Iran to warn that the collapse of OPEC could be imminent (should that happen, it’s very likely that a new organization led by Saudi Arabia and Russia could emerge in its place).

And in any case, Iran has vowed to continue exporting its oil in defiance of the Americans’ wishes.

Read the full statement below:

We, the High Representative of the European Union and the Foreign Ministers of France, Germany and the United Kingdom, take note with regret and concern of the decision by the United States not to extend waivers with regards to trade in oil with Iran. We also note with concern the decision by the United States not to fully renew waivers for nuclear non-proliferation projects in the framework of the JCPoA (Joint Comprehensive Plan of Action).

The lifting of nuclear-related sanctions is an essential part of the JCPoA – it aims at having a positive impact not only on trade and economic relations with Iran, but most importantly on the lives of the Iranian people. We deeply regret the re-imposition of sanctions by the United States following their withdrawal from the JCPoA.

We remain deeply convinced that the JCPoA is key to increasing stability and security in the Middle East region.

Together, we emphasise our continued commitment to the JCPoA, a crucial element of the global nuclear non-proliferation regime and essential for our national and shared European security.

The JCPoA is working and delivering on its goal, as confirmed by the International Atomic Energy Agency (IAEA) in 14 reports.