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Julian Lee

Donald Trump Has a Potent Weapon Against Iranian Oil

Even if Europe doesn't restore sanctions, banks and insurers won't want to end up on the wrong side of a presidential tweet.
Photographer: Jaap Arriens/NurPhoto via Getty Images

Citigroup Inc., Societe Generale SA, Royal Bank of Canada, Mitsubishi UFJ Financial Group Inc. Analysts at all these banks think the chances of sanctions on Iran snapping back into effect are much greater now that Mike Pompeo has been nominated Secretary of State and John Bolton appointed National Security Advisor.

Not the most startling insight given the characters involved, but many banks now include so-called "snapback" for Iran in their base-case energy scenarios.