Canada wasn't a signatory to the JCPOA, and in fact has its own similar set of sanctions against Iran already in place — although many had been lifted before Tuesday's developments. Statistics Canada data show that Iran was Canada's 71st largest trading partner last year, with $132 million worth of merchandise exported. Bessma Momani of the Centre for International Governance Innovation of the U.S. pull-out from the Iran nuclear deal. If European nations follow the U.S.'s lead and reimpose oil sanctions, it could take as much as one million barrels of oil per day out of the Western market. U.S. President Donald Trump's decision to withdraw from the nuclear deal signed with Iran by his predecessor has cast uncertainty on the outlook for businesses.

Source: CBC News May 09, 2018 17:39 UTC