Global

World powers try keep Iran nuclear deal alive

World powers try keep Iran nuclear deal alive

During the meeting, the Iranian leader told his French counterpart that "Europe's package of economic measures to offset the US pullout from the nuclear deal does not go far enough", the agency reported.

In calls Thursday with German Chancellor Angela Merkel and French President Emmanuel Macron, Iranian President Hassan Rouhani said since the US withdrawal "Iran has been dealing with economic issues and problems in banking relations and oil" and that foreign companies were "skeptical" about continuing their business, Iran's semi-official Mehr news agency reported.

In May, US President Donald Trump pulled out of the deal under which sanctions on Iran were lifted in return for curbs to its nuclear program.

Since Trump's shock move in May, which dismayed all other signatories, Washington has warned other countries to end trade and investment in Iran and stop buying its oil from early November or face punitive measures. "For the start August, it seems a bit short, but we are trying to do it by November", he said.

"To save the deal, other signatories should compensate for USA sanctions", a senior Iranian official told Reuters on Friday. They have reiterated their commitment to the nuclear deal on numerous occasions, and vowed to prevent the accord from crumbling.

As The Guardian notes, the threats "will bring back memories of the latter years of the 1980s Iran-Iraq War, when USA forces attacked Iranian territorial waters after a United States ship struck an Iranian mine". He stressed hat world powers would struggle to compensate Tehran for companies leaving Iran.

"We've made some progress, including on safeguarding some crude (oil) sales, but it's unlikely to meet Iranian expectations".

Ahead of the talks, Iranian President Hassan Rohani told the leaders of France and Germany that a European package of economic measures to counter the effects of US sanctions does not go far enough, Iranian news agencies are reporting. "It's also not just about what the Europeans can do, but also how the Chinese, Russians, Indians, others can contribute", said a senior European diplomat.

"We are ready for all possible scenarios. the collapse of the deal will increase the tension in the region".

Asked what would be the U.S. Naval Forces reaction if Iran blocks the Strait of Hormuz, he said: "Together, we stand ready to ensure the freedom of navigation and the free flow of commerce wherever global law allows". This was extrapolated by United States officials as a threaten to shut down all regional oil shipping, when it could just as easily be interpreted as noting that Iran can basically export its oil under the guise of it coming from other regional countries, which is common behavior during sanctions.

An Iranian warship and speed boats take part in a naval war game in the Persian Gulf and the Strait of Hormuz, southern Iran April 22, 2010.

Mogherini noted that companies pursuing business in Iran "have been acting in good faith based on the commitments contained in the JCPOA and endorsed at the highest level by the UN Security Council" and said the treaty states were committed to providing "clear and effective support for economic operators trading with Iran".


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