Politics of Iran
The United Nations Security Council overwhelmingly rejected a U.S. resolution to extend an Iranian arms embargo on Aug. 14, in a move with huge repercussions for the Iran nuclear deal.
Only two of the Council's 15 members voted in favor, highlighting the division between Washington and its European allies since President Donald Trump withdrew from the nuclear accord in May 2018.
Turkish state lender Halkbank will be arraigned in a U.S. court next week to face a federal indictment for alleged evading Iran sanctions.
The bank was represented by the law firm of King & Spalding at a hearing on Feb. 25 and attorneys said it agreed to appear at the proceedings.
Halkbank was charged in October with attempts to evade U.S. sanctions on Iran.
France, the United Kingdom and Germany have triggered the dispute settlement mechanism enshrined in the Iran nuclear program agreement.
This is the most decisive step for European participants in the deal since Tehran announced last that it was removing the restrictions on its uranium enrichment and production.
Crude oil prices were down on Jan. 8 having lost gains recorded in the previous sessions after U.S. President Donald Trump's comments to calm tensions in the Middle East.
"Iran appears to be standing down, which is a good thing for all parties concerned," Trump said on Jan. 8 amid Iran's attack on two locations in Iraq earlier in the day.