London, 10 Apr - With the nomination of Mike Pompeo as Secretary of State and John Bolton appointed National Security Advisor, the prospect of sanctions on Iran becoming effective again are much greater now, according to analysts at Citigroup Inc., Societe Generale SA, Royal Bank of Canada, Mitsubishi UFJ Financial Group Inc.
Many banks are now including a so-called 'snapback' plan for Iran in their base-case energy scenarios. Still, they seem assured regarding the impact on oil supplies from the country. Which is surprising, as SocGen sees 500,000 barrels a day of exports at risk; the others, around 350,000. Previously, sanctions cut Iran's production by more than 1.2 million barrels a day at their peak.