US signals it may block France's Iran plan as it offers millions to boost pressure – CNN

Anil Panchal FXStreet

Following a news that the US pair multi-million US Dollar (USD) to the captain of the much-debated Iranian ship that’s making the rounds of Syria, as per last-update, coupled with fresh US sanctions on the Iranian shipping, a news came out from CNN, quoting Trump administration official, that could escalate the geopolitical tension between the US and Iran.

As per the news report, Brian Hook, the US special representative for Iran, said at the State Department that “We can't make it any more clear that we are committed to this campaign of maximum pressure and we are not looking to grant any exceptions or waivers.”

The news also mentions the recent pressure from the US in the form of new sanctions against Iran's "oil for terror network" and a $15 million reward program to disrupt the financial operations of Iran's Revolutionary Guard Corps.

Another important statement in the news report mentions Mr. Hook saying that the US has seen "no concrete proposal" from France on the line of credit.

FX implications

While the US maximum pressure on Iran is gradually fueling the energy prices, the news indicates no respite to the Arab nation even if it is in negotiation with France for a multi-billion USD line of credit.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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