Iran Nuclear Deal Is a Casualty of Russia’s Ukraine War
Tehran’s drone sales to Russia and violent crackdown on protesters have sapped support for reviving the agreement.
An Iranian oil tanker waits to load.
Photographer: Ali Mohammadi/BloombergWelcome to Elements, our daily energy and commodities newsletter. Today, Oil Strategist Julian Lee looks at the bleak prospects for the Iran nuclear deal, while in China, spreading virus cases continue to damp commodities demand. As the Group of 20 convenes in Bali, the US and Indonesia unveil a $20 billion climate finance deal to help the Southeast Asian nation ditch coal. If you haven’t yet signed up to get Elements directly into your inbox, you can do that here.
Any hopes of reviving the Iran nuclear deal have been dashed by Tehran’s increasing support for Moscow after its invasion of Ukraine and the brutal crushing of protests sparked by the death of a young woman at the hands of the regime’s so-called morality police.