Skip to content
Wednesday 9 September 2026London --:--Frankfurt --:--Zurich --:--
NewslettersSearchEN · DE · FR
MorningWire

European business, markets and politics

FTSE 100
10,670.06
-1.31%
DAX
25,576.45
-1.66%
CAC 40
8,156.67
-1.94%
STOXX 50
6,311.56
-1.58%
  • Europe
  • Markets
  • Business
  • Economy
  • Regulation
  • Politics
  • Opinion
More
GermanyFranceEU InstitutionsCompetitionPublic AffairsBankingTechnologyEnergy
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Economy
  • Regulation
  • Politics
  • Opinion
  • DE
Thursday 19 January 2017 6:13 pm

Diplomats rush drilling rights agreement before Donald dunks the “doughnut” deal

By: Nell Mackenzie

Add as a preferred source on Google

Twenty-four hours to go and the United States, Mexico and Cuba need to decide what to do with the “Doughnut hole” –an area in the Gulf of Mexico where technically they all share the right to drill for oil.

Three diplomatic figures familiar with issue told Reuters there was a race to jam an agreement in before Trump’s inauguration. An unnamed official told Reuters they had hoped to have the agreement finished before the inauguration. 

Oil and gas abound in the disputed area of the Gulf of Mexico that falls with in 200 miles from each country’s shore. Mexico has a cross-border deal with the US but Cuba does not.

Read more: Is Donald Trump right that Nato is obsolete?

The fledgling relationship between Cuba and the US hangs under the threat of termination from Donald Trump who said he would cut relations if Cuba didn’t get its people and Cuban Americans a “better deal”.

Charles Roh, a former State Department lawyer and the Deputy Chief Negotiator for the NAFTA trade agreement says these negotiations sound a lot like the Iranian nuclear weapons deal.

The agreement would be classed as an executive agreement.

Roh distinguishes between a US law treaty which would take a 2/3 vote in the Senate to pass and an executive agreement which is one that the president has bestowed upon people negotiate for him.

It carries the power of the president and is binding. Otherwise, Roh says why wouldn’t all agreements made with the United States would change every four years.

Another point Roh raises about executive agreements is that the people acting on behalf of Obama won’t be in a job after tomorrow.

The rush to finish the deal, according to Roh is probably “not because there are trying to shove something down Donald Trump’s throat. Its will be because the people negotiating will be changing jobs as the administration changes”.

When Donald Trump assumes the presidency, it will take a very long time to replace these people and Roh says that “like a lot of campaign fodder, things change a lot when you are in charge. If it makes sense they may just fly with it”.

Although Roh says, “there is always the Trump risk. It’s never clear when he’ll take a different tack”.

 

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • Markets & Economics
  • News

Categories

  • Business
  • Markets
  • Politics

Related Topics

  • International

Trending Articles

  • Hedge fund billionaire Chris Rokos joins UK wealth exodus 

  • Tesco and Boots lead 100,000 jobs pledge to tackle Neets crisis

  • Airport chaos latest: Heathrow, London City ‘starting to recover’ after air traffic control failure

  • Five lenders hike mortgage prices as interest rate threat looms

  • As it happened: FTSE 100 dives as oil prices surge past $100 in blow to inflation

More from Morning Wire

  • A Gulf Trade Agreement could accelerate UK data centre development

    Partner
  • Don’t underestimate the free trade agreement Britain just joined

    Opinion
    A person holds small UK and Canadian flags, symbolizing international relations.
  • Mexico breaks ranks and dents Uefa-led bid to oust embattled Fifa kingpin Infantino

    Sport Business
    Gianni Infantino, FIFA President, smiling as golden confetti falls around him
  • Iran war could ‘halt growth’ across UK economy 

    Economics
    Andy Burnham, Mayor of Greater Manchester, in a dark suit and glasses, listening intently at a wooden table.
  • INSEAD Marks the First Milestone in Its Europe Campus Re-imagination

    Business Wire
  • As it happened: Stocks rally; US to unveil ‘economic D-Day’ Iran sanctions

    FTSE 100 Live
  • Trump suspends strikes amid new peace hopes

    Politics
    Donald Trump speaking at press conference podium, addressing media with serious expression, American flags in background
  • As it happened: Stocks fall into red as oil fluctuates over Middle East developments

    FTSE 100 Live
    Large oil tanker navigating a strait under a cloudy sky, impacting oil prices and global trade.
MorningWire

Independent European business, markets and political news for decision-makers.

Morning Briefing

Europe

  • Germany
  • France
  • EU Institutions
  • Europe

Business

  • Markets
  • Business
  • Economy
  • Regulation
  • Competition
  • Public Affairs

Editorial

  • Opinion
  • Editorial Policy
  • Corrections
  • Contact

Company

  • About Morning Wire
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
© 2026 Morning Wire Ltd · Published by Morning Wire Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
Privacy · Terms · Cookies · Facebook