A general view shows a unit of South Pars Gas field in Asalouyeh Seaport, north of Persian Gulf, Iran November 19, 2015. REUTERS/Raheb Homavandi
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U.S. President Donald Trump's threat of sanctions against buyers of Iranian crude risks being batted back by some adversaries. Some of Iran's biggest customers will probably oppose U.S. sanctions, MUFG Bank says.The renewed sanctions are intended to force Iran to renegotiate a 2015 agreement over its nuclear program the country's leaders have said they will not revisit.The U.S. advised countries that want to avoid sanctions on their financial institutions to reduce their volume of crude purchases from Iran during a 180-day wind-down period.What's more, since the U.S. is alone in the withdrawal, the EU may not reinstate sanctions on shipping insurance, which were critical in disrupting exports last time, Khoman said. That means only as much as 350,000 barrels a day of Iranian oil may be removed from the global market this time, much less than the 1 million barrels during the last sanctions, he said.
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