On 8 May 2018 President Trump announced that the US would be withdrawing from the JCPOA with all of the sanctions lifted or waived pursuant to that agreement to be re-instated. This step has divided opinion globally with the remaining 5 signatories of the JCPOA looking to try and salvage what they can of the agreement. Whether or not this spells the end of the JCPOA the announcement has far reaching implications with oil prices already increasing and fears of tensions escalating in the Middle East. Developments over the next few weeks will be pivotal. As matters progress we will keep you updated but for the time being we have produced a brief memo of what the US withdrawal will mean and what can be expected by way of sanctions in the next six months.
Iranian sanctions to be reinstated.