Economy

Europe, Iran diplomats plan to save nuclear deal

Europe, Iran diplomats plan to save nuclear deal”

The danger that military tensions in the Middle East will mount after the United States decision to withdraw from the Iran nuclear deal is growing, Russian Deputy Foreign Minister Sergei Ryabkov told the Moscow-based think tank Valdai International Discussion Club Tuesday.

Mogherini acknowledged the enormous challenge of finding a way around USA sanctions punishing businesses trading with Iran, which apply all around the world.

Zarif made the remarks following a meeting with his French, British and German counterparts the European Union's foreign policy chief Federica Mogherini in Brussels on Tuesday.

Mogherini agreed at the end of a long day of diplomatic meetings. Already European leaders have engaged in a flurry of activity to entice Iran to remain party to the JCPOA despite the resumption of US sanctions. Following Trump's decision, the Treasury Department's Office of Foreign Assets Control sanctioned nine Iranian individuals and entities including those with links to Iran's Revolutionary Guard. "The Foreign Ministry believes the U.S. will not change its mind". "It has crucial significance not only for ensuring regional security, but also for stability in the world, and it's extraordinarily important in the regime of nuclear non-proliferation".

The EU insists the deal is working, pointing to repeated United Nations inspections verifying Iran's compliance with its side of the bargain, and Mogherini's spokeswoman Maja Kocijancic told AFP ahead Zarif's arrival that "we must do our utmost to preserve it".

President Donald Trump's announcement on Tuesday that the U.S. was exiting the 2015 nuclear accord was met with widespread dismay by its other signatories - Britain, China, France, Germany and Russian Federation. "There is no plan B", he said.

"Guarantees of benefits of the JCPOA should be given to Iran". Russia, which sells arms to Iran and is involved in oil and gas facility and nuclear power plant construction in Iran, has already announced that the USA withdrawal from the nuclear deal will actually help Russia.

Brent Crude Oil
Weekly July Brent Crude Oil

For Iran, it will mean crushing sanctions and direct or continued indirect war declared by Israel and Saudi Arabia with USA support.

"Why would any business, why would the shareholders of any business, want to do business with the world's central banker of global terrorism?" But in an interview aired on the ABC programme This Week, Bolton said, "That's not the policy of the administration". On Saturday, French President Emmanuel Macron told Trump in a telephone call that he was anxious about stability in the West Asia, according to Macron's office.

Concern - and anger - is growing among European governments at the uncertainty facing companies with investments in Iran.

German exports to Iran totaled almost 3.0 billion euros in 2017, while French exports soared from 562 million euros in 2015 to 1.5 billion in 2017 and oil giant Total has pledged to invest some $5 billion in the South Pars gas field.

France as a "matter of principle" can't accept that "the USA act like the world's economic policeman", Finance Minister Minister Bruno Le Maire told reporters on Friday. "But violating the Iran deal is far more risky".

"It won't be easy, that's clear to all of us".



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