Europe, Iran seek to save nuclear deal after United States pullout

A Palestinian protester hurls stones at Israeli troops during a protest at the Gaza Strip’s border with Israel yesterday

Zarif is due to leave for Beijing on Saturday and will later travel to Russian Federation. And it did not lie in continuing this deal.

The US, he said, is not going it alone on Iran.

Iran said it would remain committed to the deal without Washington if Tehran achieved its goals - namely being protected from sanctions against key sectors of its economy such as oil - in cooperation with other countries that have signed up to the agreement. "It is going to be very hard for us to preserve the economic benefits of the Iran deal", one senior European diplomat said.

The International Atomic Energy Agency (IAEA) has repeatedly confirmed that Tehran has been meeting its nuclear commitments fully.

US President Donald Trump on May 8 announced that the United States was withdrawing from the 2015 deal negotiated by the Obama administration.

A decline in volumes due to the sanctions will add to upward pressure on oil prices, which have gained this year because of an OPEC-led supply cutting deal and strong global demand.

It is unclear how well the measure could be enforced, given that big multinationals are likely to be doing more business in the USA than they are in Iran and may be unwilling to compromise that market access.

Iranian Foreign Minister Mohammad Javad Zarif has met with European Union foreign policy chief Federica Mogherini as the Europeans seek to keep the Iran nuclear agreement.

During the 2016 United States presidential election campaign, then-candidate Trump called the JCPOA "the worst deal ever", while his predecessor Barack Obama had considered it a major achievement.

French Finance Minister Bruno Le Maire. Phloto Philippe Wojazer  Reiters
French Finance Minister Bruno Le Maire. Phloto Philippe Wojazer Reiters

Advisor to the President for national security John Bolton explained that the USA allow the introduction of sanctions against companies from the European Union, which, after the exit of Washington from the deal on the Iranian atom will continue to do business with Iranian entities. Kerry has suggested that the United States leaving the JCPOA would lead Kim Jong Un to conclude that any agreement reached with a U.S. president could be thrown out by his successor. "Who will buy Iranian oil and who will side with Trump".

German Chancellor Angela Merkel and her French counterpart, Emmanuel Macron, have also expressed concerns over Washington's decision.

Trump telegraphed the move, and oil prices shot up in recent weeks as traders anticipated it.

"But it really is a question mark as to what Europe can do for them in the face of ..."

"It's not just about the ability of European companies to do business with Iran", recalled O'sullivan, noting that Iran also operating companies from China and Russian Federation.

Iran's Supreme Leader Ali Khamenei has already said that Israel won't exist in 25 years if it continues to destabilize the region.

"Should the governments decide to comply with USA demands, the refineries - as was seen in Europe and Japan - will have to make the necessary adjustments to process crude from other countries", Emadi said.

"Now, even though hardline critics of the government say they support the president, they are predicting that this will shake the foundation of Rouhani's cabinet", added Basravi.

But the most stinging result of America's decision to pull out of the Iran deal could be the birth of a new war in the Middle East. Iran, which would be under no restrictions to not follow a nuclear program, has vowed to scale up its preparations of uranium enrichment if the deal collapses.

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