The renewed US sanctions were among those lifted under a 2015 deal between world powers and Tehran on curbing Iran’s nuclear program.

Gas pipelines connecting Russian supply to Europe make further inroads.

China earlier this year introduced the petroyuan as an alternative to the US dollar-dominated oil industry .

The JV will own and operate gasification assets. power block and other facilities at Jazan Economic City in the kingdom.

Any deal will ".expand the field for multilateral cooperation". between the five states.

The UAE is the second largest exporter of crude oil to Japan after Saudi Arabia.

The latest threat from President Trump is to slap tariffs on US$200 million worth of Chinese goods.

US President Donald Trump has mounted pressure on Iran.

The dispute began with the fall of the Soviet Union which had had a clearly defined Caspian border with Iran.

Iran. Azerbaijan and Turkmenistan have for more than two decades contested the ownership of several oil and gas fields in the Caspian Sea.