Energy Markets
China and Russia reject European sanctions against Iran
China and Russia, permanent members of the UN Security Council, backed Iran in their rejection on Monday of a European move to reimpose UN Sanctions on Tehran that were loosened under an agreement on nuclear energy a decade earlier. In a letter signed by China, Russia and Iran's foreign ministers, they said that a British, French and German move to restore sanctions automatically under the so-called "snapback" mechanism was "legally flawed and procedurally flawed". China, Russia, and the three European nations, collectively known as E3, were all signatories of the 2015 Iran nuclear deal. Donald Trump, the first American president...