Iran’s foreign minister has written a letter to the head of EU foreign policy

  • France, Germany and United Kingdom have no legal jurisdiction to trigger automatic re-imposition of sanctions on Iran
  • Iran ready to resume diplomatic negotiations over its nuclear programme provided that other parties demonstrate seriousness and goodwill
  • Any E3 efforts to revive UN Security Council resolutions that were terminated under Resolution 2231 are invalid and ineffective

Oil traders will be keeping an eye on Iran developments. An escalation in the Middle East will act as a tailwind for oil prices.

Source: Forex Live