ibusinesslines.com October 23, 2018

Iran Nuclear Deal: US Reimposing Sanctions Threatens War In Middle East

13 May 2018, 08:25 | Melissa Porter

Sergei Savostyanov TASS

Sergei Savostyanov  TASS

"If the remaining five countries continue to abide by the agreement, Iran will remain in the deal despite the will of America", he said.

In February, Iranian President Hassan Rouhani visited India during which both sides agreed to further expand their cooperation in number of key sectors.

The 2015 deal offered Tehran sanctions relief in exchange for curbing its nuclear program.

The possible collapse of a deal which had promised to keep Iran in check comes as Israel attacked Iran's military installations in Syria. "It's a UN Security Council Resolution and it belongs to the entire world", said Mogherini, who will chair talks Tuesday with the British, French, German and Iranian foreign ministers in Brussels.

For critics like Mr. Dubowitz, who favored fixing the deal rather than nixing it, the failure to close the final gaps suggests that Mr. Trump was never serious about finding a remedy - that he was merely going through the motions before killing it.

Iran has threatened to resume "industrial scale" uranium enrichment "without any restrictions" if it does not get guarantees that the trade ties which have been established with Europe since the deal was signed will be maintained.

Trump said he wants to impose new conditions on Iran, to address its ballistic missile program, its support for terrorism, the expiration dates and inspection provisions in the agreement.

"I am hopeful in the days and weeks ahead we can come up with a deal that really works, that really protects the world from Iranian bad behavior", Pompeo said.

The French finance minister said he pushed U.S. Treasury Secretary Mnuchin this week for three things: exemptions for French companies operating in Iran; or the application of a so-called grandfather clause for deals struck in Iran since 2015; or an extension of the 90-day period to wind down operations in Iran.

"The consequences of American sanctions go well beyond goods shipped by American companies", Bolton said. "They moved very quickly when it was time to implement the deal and they can move very quickly if they decide to undo it".

In Berlin, Economy Minister Peter Altmaier said Germany was ready to give help to its affected firms, including legal advice, to continue doing business in Iran. "That means, it is concretely about damage limitation".

But it's not clear if those European efforts would succeed.

"In the end, the size of the USA market dwarfs any prospect of any benefit they can get from Iran", Maloney said. Another could be an independent financing mechanism allowing European companies to avoid USA banks.

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