Wednesday, 18 July, 2018

Iran, EU try to save nuclear deal

Chip Somodevilla via Getty Images Chip Somodevilla via Getty Images
Scott Davis | 15 May, 2018, 22:37

However, President Trump has explicitly noted that United States hopes to reach a "fair" deal with Iran through new rounds of talks.

US President Donald Trump's pullout from the 2015 nuclear deal has upset Washington's European allies, cast uncertainty over global oil supplies and raised the risk of conflict in the Middle East.

Iranian President Hassan Rouhani reiterated his country's commitment to the deal, saying Teheran will continue to implement its liabilities.

"China will take an objective, fair and responsible attitude, keep communication and cooperation with all parties concerned, and continue to work to maintain the deal".

"So far we have had very positive signals from signatories of the deal. but what is important is for Europeans to find a way to protect their investors from United States penalties (when they invest in Iran)", a senior Iranian diplomat said.

Trump directed his administration to "immediately begin the process of re-imposing sanctions" related to the deal, a White House statement said.

However, Washington's decision to pull out of the worldwide nuclear deal and its threat to reimpose sanctions on firms doing business in Iran has cast fresh doubt over this new trade.

Describing the deal as "hard-earned", Mr Yi added: "I hope and believe that these visits to multiple countries will help protect Iran's legitimate national interests and peace and stability in the region".




"Then if you can improve on other things, other issues, you always have space for doing that", she said.

Russian Federation and Iran once had hard relations but have seen ties improve since the end of the Cold War. After years of crippling economic sanctions, the deal opened Iran to business with the United States and Europe, and companies around the world began doing business in Iran.

"[New Zealand companies] will lose in this sanction, we can buy, for example butter, from many other countries, that is why it is not in favour of New Zealand, it will not serve the New Zealand companies' interests".

Earlier Tuesday, Zarif said he had a "very good and constructive" meeting with European Union foreign policy chief Federica Mogherini, who helps to supervise the U.N. Security Council-endorsed agreement.

"Is the USA going to impose sanctions on European companies that continue to do business with Iran?"

But while he talked up the prospect of renewed coordination with America's allies, another top aide reminded Europe its companies could face sanctions if they continue to do business with the Middle Eastern power. The White House has said the US will put those sanctions back into place.

Among them is the possible use of an EU "blocking regulation" which would, in essence, ban European companies from respecting American sanctions where those sanctions might damage EU interests, notably trade and the movement of capital.

White House National Security adviser John Bolton refreshed the threat on Sunday, saying USA sanctions could be imposed on European companies doing business with Iran.

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