A senior investment strategist at the DeVere Group, a leading international financial advisory firm, warned that the US’ exit from the JCPOA will lead to increased market volatility, according to a press release sent to Sputnik on May 8.
“Investors should expect an increase in market volatility following Trump’s announcement that he is quitting the Iran nuclear deal. There will be global stock market sell-offs as the world adjusts to the news,” the press release cites International Investment Strategist Tom Elliott as saying.
“We will need to wait for the full Iranian response. However, I expect that they will try to continue to appear the reasonable partner and work with Russia and the Europeans, playing them off against the U.S. If they take a more aggressive stance, oil, gold and the dollar will go considerably higher.”
Russian Foreign Minister Sergei Lavrov said on Wednesday that Moscow is committed to keeping the Iran nuclear deal in place.
Iranian President Hassan Rouhani also expressed support for the continuation of the agreement – which lifted crippling economic sanctions in exchange for restrictions on Tehran’s nuclear program – and said they will continue with the deal with the other five members.
Tehran insists that its nuclear program is only for energy purposes, not weapons development, and says it has complied with the terms of the agreement by granting inspectors access to all of their facilities.