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Trump’s pull out of Iran N-deal may escalate oil prices
India will also be affected by oil price rise
The possibilities of US President Donald Trump’s pull out from Iran nuclear deal on May 12 has been influencing the crude oil market. The Brent Crude, the global benchmark, briefly soared above $75 per barrel on Monday after Israeli Prime Minister Benjamin Netanyahu claimed that Iran was lying on its implementation of JCPOA conditions.
According to CNN, bringing back sanctions on Iran could knock out as much as 1 million barrels per day of crude supply, dealing a “blow to increasingly fragile energy markets”.
Micheal Wittner, the global head of oil research at Societe Generals, a French multinational banking and financial services, said, “There will be significant disruption. The market is assuming that oil sanctions will snap back onto Iran”.
Read More: Iran warns US not to withdraw from n-deal or face consequences
Meanwhile, Tehran based Press TV reports that the National Iranian Oil Company (NIOC) exported 2.8 million barrels per day of crude oil and condensate to Asian and European countries in April, a record since the lifting of sanctions in early 2016.
China and India are the biggest buyers taking in 1.4 million bpd of Iran’s oil. South Korea and Japan are Iran’s other key customers in Asia where 60 percent of Iranian oil is exported.
The report further says that Europe receives almost all the other 40 percent of oil shipments from Iran.The major buyers include: France’s Total, Anglo-Dutch Shell, Italy’s Saras, Greek Hellenic Petroleum as well as Polish and Turkish companies.
Read More: Saudi Prince ask US to rethink on Iran-N deal
After January 2016, when US-led sanctions were lifted along with implementation of Iran nuclear deal known as JCPOA, Iran re-emerged as a major oil exporter. However, Trump’s threats to re-impose the US sanctions this month have sent jitters across the global oil market.
Meanwhile Reuters quoted Stephen Innes, head of trading for Asia-Pacific at futures brokerage OANDA in Singapore, saying, “As May 12 Iran nuclear deadline nears, geopolitical developments will continue to drive oil market sentiments”.
On Monday, US President Donald Trump said that Israeli PM Benjamin Netanyahu’s revelations about Iran lying on its nuclear project show he’s “100% right” about the Iranian nuclear agreement. He was quoted saying, “We’ll see what happens. I’m not telling you what I’m doing, but a lot of people think they know.”
Stephen Bennock, the oil analyst at Singapore based brokerage firm PVM Oil Associates, wrote to his clients late last week, “The Iranian nuclear deal is dead in the water and a Trump torpedo is fast approaching.”
Under the 2015 nuclear deal, Iran agreed to limit its nuclear activities, in exchange of lifting sanctions against the country. Iran had quickly boosted its oil production by about 1 million barrels per day after the implementation of the deal in January 2016.
According to FEG estimates, if the sanctions are restored, Iran’s output could be slashed by 250,000 to 50,000 barrels per day by the end of 2018. This figure could rise to 500,000 to 1 million per day through 2019.
Read More: EU: US to lose trust if Washington withdraws from Iran N-deal
FGE has also warned that if no steps are taken to void left by Iran, the gap between supply and demand could shrink to the tightest level since 2013, when oil prices were above $ 100 a barrel.
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India-Canada row: No special exemption to India, says US NSA Jake Sullivan
Jake Sullivan asserted that this is something that they will keep working on, noting that there was no special exemption to India in the case.
The United States on Thursday affirmed that it is in constant communication with India and Canada amid increasing diplomatic tensions between both the countries. The diplomatic standoff broke out after Canadian Prime Minister Justin Trudeau asserted that his country’s security agencies were investigating a link between the Indian government and the killing of Hardeep Singh Nijjar.
Speaking on the matter, US National Security Advisor Jake Sullivan told reporters that the US will be in contact with India at the highest level. He added that it is a matter of concern for them and they are taking it seriously. He asserted that this is something that they will keep working on, noting that there was no special exemption to India in the case.
He underlined that there is not some special exemption for actions like this. He added that regardless of the country, they will stand up and defend their basic principles. In addition, he affirmed that the US will also consult closely with allies like Canada as they pursue their law enforcement and diplomatic process.
Jake Sullivan further dismissed reports that the US’s desire to strengthen ties with India would constrain its ability to voice concerns about the allegations. He asserted that the Joe Biden administration took Canada’s allegations seriously and it was in constant contact with Ottawa.
He also noted that the US have deep concerns about the allegations and that they would like to see this investigation carried forward and the perpetrators held to account. Meanwhile, New Delhi outrightly rejected Canada’s allegation as absurd and motivated. In a tit for tat move to Ottawa’s expulsion of an Indian official over the case, New Delhi expelled a senior Canadian diplomat.
On Thursday, India asked Canada to take action against terrorists and anti-India elements operating from its soil. Furthermore, India also suspended visa services for Canadians, as the diplomatic standoff over Nijjar’s killing pushed their ties to an all-time low.
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Canadian High Commission asks Centre to ensure safety, security of its diplomats, staff in India
The High Commission affirmed that all consulates in India are open and operational and will continue to serve clients.
Amidst rising tensions between India and Canada, the Canadian High Commission on Thursday asserted that some of its diplomats have received threats on social media. It urged India to provide security for Canadian diplomats and consular officers in the country. The High Commission further revealed that it has decided to temporarily adjust its staff presence in the country.
The High Commission also affirmed that all consulates in India are open and operational and will continue to serve clients. It added that in the view of the current environment where tensions have heightened, they are taking action to ascertain the safety of their diplomats. It further underlined that Global Affairs Canada is continuously supervising the safety and security of their missions and personnel as they maintain a strict security protocol to respond to any events.
On the other hand, the Vancouver Police Department has tightened security outside India’s Consulate amid planned threats from proscribed group Sikhs for Justice after Prime Minister Justin Trudeau claimed that Indian government agents were responsible for the killing of Khalistani terrorist Hardeep Singh Nijjar. Const. Tania Visintin, the department’s media relations officer, noted that Vancouver police are not aware of any specific threats to Indian consular officials, but have increased police presence at the downtown Vancouver consulate.
In a shocking claim on Monday, Canadian Prime Minister Justin Trudeau claimed the country’s security agencies were investigating a link between the Indian government and the killing of Nijjar. Following this, both India and Canada have been engaged in a diplomatic standoff. Earlier on Thursday, India suspended visa services for Canadian nationals until further notice owing to operation reasons.
In a meeting that was held on the sidelines of the G20 Summit, Prime Minister Narendra Modi reportedly conveyed strong concerns about continuing anti-India activities of extremist elements in Canada, promoting secessionism and inciting violence against Indian diplomats, damaging diplomatic premises, and threatening the Indian community in Canada and their places of worship.
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Gangster Lawrence Bishnoi claims responsibility for Sukhdool Singh’s killing in Canada
Terming Sukhdool Singh, a drug addict, Bishnoi’s gang claimed that he destroyed the lives of many people and that he was untimely punished for his sins.
Gangster Lawrence Bishnoi has reportedly claimed responsibility for the killing of terrorist Sukhdool Singh in Canada’s Winnipeg city. According to reports, in a Facebook post, Lawrence Bishnoi’s gang stated that Sukhdool Singh, aka Sukha Dunuke, had played a pivotal role in the killings of gangsters Gurlal Brar and Vicky Middkhera. They further alleged that the murders were plotted by Sukhdool Singh when he was staying abroad.
Terming Sukhdool Singh, a drug addict, Bishnoi’s gang claimed that he destroyed the lives of many people and that he was untimely punished for his sins. Lawrence Bishno’s gang also alleged that Sukhdool Singh, a member of Davinder Bambiha, also got Sandeep Nangal Ambiya, another gangster, killed. They added that it gave a stern warning to their enemies, stating they would not be able to live in peace, even if they hide in India or any other country.
The Killing of Sukhdool Singh came amid growing diplomatic tensions between India and Canada over the killing of another Khalistani terrorist Hardeep Singh Nijjar in Surrey, British California. Hardeep Singh Nijjar, who was wanted in India, was gunned down outside a gurdwara in June.
Meanwhile, Lawrence Bishnoi is currently behind bars in Ahmedabad in a drugs smuggling case probed by the National Investigation Agency (NIA). In addition, he is also an accused in the Punjabi singer Sidhu Moose Wala murder case.
Sukhdool Singh is reportedly an A-category gangster, who hailed from Punjab’s Moga and earlier escaped from his state to Canada. He was an aide of Khalistani terrorist Arshdeep Singh alias Arsh Dala. As far as reports are concerned, in 2017, Sukhdool Singh alias Sukha Dunuke obtained a passport and a police clearance certificate on forged documents to flee to Canada despite having seven criminal cases lodged against him.
Reports suggested that Sukhdool Singh, an aide of Khalistani terrorist Arshdeep Singh alias Arsh Dala, was killed in an inter-gang rivalry.
