Oil Analysts, Experts Weigh In On Iran Nuclear Deal
Iran, the United States and five other major powers reached an agreement to restrain the Iranian nuclear program in exchange for relief from economic sanctions. Q: Can you outline the timeline from here? "The P5+1 will now work on a UN resolution to endorse the deal; separately, domestic legislatures and other processes will review text, in the U.S, that includes a 60-day review period; 90 days from today the deal goes into implementation mode in which Iran does a number of nuke steps, and the P5+1 establish legal conditions for relief, but it doesn't get activated until the IAEA (International Atomic Energy Agency) issues a report verifying Iran did what it said it would do, which Secretary (of State John) Kerry put at about 6 months, and which I think is about right, as noted before.
Syria Taps World Wheat Market as Stocks Run Down
Weeks after Syria said it had no need for wheat imports, the government plans to import 150,000 tonnes and has introduced ways to conserve grain stocks in signs of the growing strain on food supplies from conflict in the country. Despite millions of Syrians fleeing the fighting to neighbouring countries with 220,000 people estimated to have been killed, Syrian President Bashar al-Assad's government is grappling with ensuring there is enough grain for all. Trade sources say Damascus faced challenges importing sufficient stocks as payment problems and fighting have deterred many international firms from trading. Before the war, Syria kept annual strategic stocks of around 3 million tonnes of wheat.
Private Buyers in Iran Look to Boost Grain Market
One sign of change in Iran as it works toward a nuclear deal with world powers is the way it is feeding itself, with private grain firms beginning a slow return to their traditional role as major food commodity importers. Iran was never barred from buying food under sanctions imposed by the United States and the European Union over Tehran's nuclear activities. But the measures have made trade more difficult for the past two years by hindering payments and ocean shipping, which has left the bulk of the work in the hands of state buyers such as the GTC and SLAL. However, Tehran has won limited relief from the sanctions after agreeing to curtail its nuclear activities…
