Iranian nuclear talks back on

The global oil market watches with interest on whether a US return to the JCPOA agreement will unleash a wave of Iranian barrels

US President-elect Joe Biden will resume negotiations with Iran over the landmark nuclear deal he helped forge during his years as vice-president under President Barack Obama. Biden is widely expected to encourage the Islamic Republic to return to full compliance with the nuclear pact in exchange for a gradual unwinding of US sanctions and, importantly, an end to the US embargo on oil exports. But the Biden administration will likely not undo all of the sanctions, nor will the removal of the export ban take effect immediately. Different phases of sanctions will be removed depending on how the negotiations progress. Nevertheless, there will be an initial easing of financial and oil export mea