MOSCOW (Sputnik) — The oil market will not react to the statement of US President Donald Trump about Washington's new policy toward Tehran, Iranian Minister of Petroleum Bijan Zangeneh said Sunday.
"I see it unlikely that these remarks will have any determining impact on the price of oil," Zangeneh said, as quoted by the Shana news agency.
In a speech on Friday, US President Donald Trump said his administration had decided not to certify Iran's compliance with the nuclear agreement, also known as the Joint Comprehensive Plan of Action (JCPOA), but had not challenged Iran's compliance with the deal at the international level.
In July 2015, Iran signed the JCPOA with the P5+1 group of nations, a group of five permanent members of the UN Security Council — China, France, Russia, the United Kingdom, the United States — plus Germany. The nuclear deal came into force in January 2016, and provides for the gradual lifting of economic and diplomatic sanctions imposed on Tehran by Western countries in exchange for closing Iran's nuclear program.
