Deal or No Deal?

Lifting of Iranian sanctions will be positive for crude tankers

While the tension between Russia and Ukraine is capturing all the headlines, a revival of the Iran nuclear deal seems to be getting closer. The objective of the deal would be to lift sanctions on Iran (including waivers on oil sanctions) in exchange for restrictions on Iran’s nuclear activities. Reports have surfaced about a framework agreement that addresses these issues and outlines a sequence of steps. The first steps would involve Iran suspending its uranium enrichment program and releasing several Western prisoners held in the country. At the same time, US $7 Billion in Iranian funds frozen in South Korean banks would be released.