Iran, EU try to save nuclear deal

  • Iran, EU try to save nuclear deal

Iran, EU try to save nuclear deal

Germany and France said they would seek to shield European companies from us sanctions, which would prohibit companies that do business in Iran from using the USA financial system.

Russian Foreign Minister Sergey Lavrov and his Iranian counterpart Mohammad Javad Zarif on Monday discussed the future of Iran nuclear deal after the USA withdrawal. "And if it continued, it would have given Iran extraordinary economic benefits without any guarantees of Iranian performance".

Zarif seemed open to the European stance and said he had a "very good and constructive" initial one-on-one with Mogherini.

"We're on the right track to ensure that the interests of all parties, especially Iran, will be secured", he added. The deal's official name is the Joint Comprehensive Plan of Action, or JCPOA.

"A lot of companies in the aeronautical, pharmaceutical, energy and auto sectors have invested in a significant way in Iran and some have concluded contracts in good faith which must be respected", Le Maire told reporters following the meeting.

Europeans, he added, would "do everything to protect the interests of their companies" and planned to lead "tight negotiations" with Washington via the European Union.

"One thing is absolutely sure is that the European Union is determined to preserve this deal that is essential to our security and the security of the region".

The meeting comes amid fears that European companies may face reprisals from the United States for breaching American sanctions by continuing to operate in Iran.

"The Europeans should not have to pay for the withdrawal of an agreement by the United States, to which they had themselves contributed", he said.

"He [Trump] makes the decisions, and the advice I give him is between us", Bolton said.

European firms, especially those from France and Germany, rushed to invest in Iran following the 2015 agreement, under which Tehran agreed to freeze its nuclear programme in return for the repeal of punishing global sanctions.

Speaking of energy, France's Total has a $2 billion deal with China's CNPC to develop Iran's South Pars gas field.

However, once the wind-down periods end on 6 August and 4 November 2018 depending on the activity, the re-imposed USA extra territorial sanctions are likely to have significant ramifications for maritime trade with Iran and the insurance of such trade.

"We have to be realistic about the electrified rail, the live wire of American extra-territoriality and how that can serve as a deterrent to business", said British Foreign Secretary Boris Johnson.

Meanwhile, Lavrov said that Russian Federation and Europe had a duty to "jointly defend their legal interests" in terms of the Iran deal.

Iran's foreign minister will travel to Moscow on Monday 14 May and meet his Russian counterpart, Russia's RIA news agency said, citing a Russian foreign ministry official.

"I think that it was a mistake to rip up the agreement, and we should've built on the agreement rather than stepping backwards", Paul said.

With the Iran nuclear deal, the treachery lies with Iran, a nation state that has been calling for "Death to America" and "Death to Israel" since 1979.

Somewhat surprisingly, longtime USA ally Jordan took a more nuanced approach, urging President Trump to remain in the deal, with Foreign Minister Ayman al-Safadi having warned of "dangerous repercussions" and a possible arms race in the Middle East if the JCPOA was nixed without a contingency plan to prevent Tehran's potential nuclearization.

Divisions in Iran over how it should respond to the United States pullout were illustrated as senior cleric Ayatollah Ahmad Khatami told worshippers at Tehran University today that European nations could not be trusted.