the european union's involved only arena oil cake centerra ron says it's been stockpiling money and goods as a buffer against sanctions from brussels that some iranian officials say they're still able to sell oldest i'd be us a bond science to the extensive list of waivers from washington. and dollars he's in to use up next for you and our business presented to make sure men today go talks to pulitzer prize winning author on iran's ability to export oil now that sanctions have come into effect. on the first of july europe will seize importing oil from iran and new u.s. sanctions will also come into place now to talk about how this will affect the energy market i'm now joined by daniel yergin he is the chairman of my h.s. there and also author of the quest and pulitzer prize went to daniel it's a big pleasure to have you on the thank you so right now what we're seeing on the energy market is a downward trend although over the years of the economic turmoil two thousand and eight two thousand and nine and the following years we have seen oil prices pretty high what do you make of the downwar