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Good morning. New U.S. sanctions against Russia, a hard-line shift in Iran and bad news for Brits’ summer plans. Here’s what’s moving markets.
Ultraconservative cleric Ebrahim Raisi won Iran’s presidential election, potentially complicating world powers’ efforts to revive a nuclear deal that could see the Islamic Republic return to global oil markets. While Raisi has previously said he would preserve the nuclear deal that outgoing President Hassan Rouhani helped seal, he has also indicated he doesn’t want to make it Iran’s central foreign policy concern. A day after Raisi was elected, diplomats adjourned their sixth round of negotiations in Vienna with significant gaps remaining to mend the six-year-old accord.