The Nuclear Agreement’s Aftermath

Torbat, Akbar E.

doi:10.1007/978-3-030-33766-7_12

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“…The persistently updated sanctions are targeted at Iran's oil exports, which are a significant source of revenues for Iran's governments. After imposing a new round of sanctions on Iran in 2016 and 2017, the US announced its withdrawal from the Joint Comprehensive Plan of Action and banned its oil exports in 2018 [21][22][23], aiming to prohibit Iran's development of nuclear weapons [24,25]. This led other Persian Gulf countries, who own the largest amount of spare oil production capacity [26], to increase production and exports in order to address the gap in the global oil supply [5,[27][28][29].…”

Section: Introductionmentioning

confidence: 99%

How Do International Conflicts Impact China’s Energy Security and Economic Growth? A Case Study of the US Economic Sanctions on Iran

Cui

2021

Sustainability

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International conflicts cause global energy price fluctuations and supply disruptions, which can threaten energy security and economic growth in energy-importing countries, including China. However, the implications and impact mechanisms of international conflicts on the energy security and economy of oil-importing countries have been poorly explored. Using US economic sanctions on Iran as a case, a global energy-extended computable general equilibrium model, GTAP-E, is employed to assess the impacts of international conflicts on China’s energy production, trade and supply, sectoral outputs, and economic growth. The results indicate that the USA–Iran tension would threaten China’s energy security, mainly due to the instability of the energy supply and the consequent upsurge of energy prices. However, if increased oil exports from other Persian Gulf countries compensate for the global oil supply shortages, China’s energy supply would be generally assured. Moreover, because of the close energy cooperation links between Iran and China, the sanctions could decrease the Chinese outputs of non-energy sectors and economic growth. Nevertheless, compared with sole-sanction situations, the results from a possible USA–Iran tension escalation, going as far as Iran’s closure of the Hormuz Strait, could pose a more serious risk to China’s energy security and economic growth.

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Section: Introductionmentioning

confidence: 99%

How Do International Conflicts Impact China’s Energy Security and Economic Growth? A Case Study of the US Economic Sanctions on Iran

Cui

2021

Sustainability

View full text Add to dashboard Cite

show abstract

The Nuclear Agreement’s Aftermath

Cited by 1 publication

References 0 publications

How Do International Conflicts Impact China’s Energy Security and Economic Growth? A Case Study of the US Economic Sanctions on Iran

How Do International Conflicts Impact China’s Energy Security and Economic Growth? A Case Study of the US Economic Sanctions on Iran

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