ibusinesslines.com
ibusinesslines.com May 21, 2018


Rhetoric over US exit from Iran deal rises amid threat of sanctions

16 May 2018, 11:08 | Kelvin Horton

China Sticks to Iran Nuclear Deal After US Withdrawal – Foreign Minister REUTERS Jonathan Ernst

U.S. President Donald Trump holds up a proclamation declaring his intention to withdraw from the JCPOA Iran nuclear agreement after signing it in the Diplomatic Room at the White House in Washington

On Sunday, US Secretary of State Mike Pompeo said Washington still wants to work with Europe to counter Iran's "malign behavior" and was working hard to thrash out a more wide-ranging deal with its European partners.

Speaking on Sunday in Beijing, Mohammad Javad Zarif underlined Tehran's readiness "for all options" but expressed optimism that this round of negotiations could save the 2015 deal. And it did not lie in continuing this deal.

Italy's Eni also continues to buy Iranian oil and it is buying 2 million barrels of oil per month from Iran under a deal that expires at the end of the year.

Part of the flaw with the Iran deal that President Donald Trump rejected was it enticed Europe and the USA into economic relations with Iran that would work against holding the country accountable for violations of the agreement, Bolton said.

The pact's signing had been planned for long time, but the move coincides with the USA move to re-impose sanctions against Iran that have rattled US allies.

Zarif held a "good and constructive" meeting with European Union foreign policy chief Federica Mogherini, adding that talks with the three European countries would continue in the next two weeks.

On May 9, President Donald Trump broke with his European allies to announce USA withdrawal from the worldwide nuclear agreement with Tehran brokered by President Obama.

The sanctions will target critical sectors of Iran's economy, including petrochemicals, energy and finance.

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


Lavrov said at a meeting with the Iranian foreign minister that it is necessary to prevent any new threats to the nuclear non-proliferation regime.

European countries and companies that continue to do business with Iran could face US sanctions, National Security Adviser John Bolton said Sunday.

Washington's five other partners in the deal have already taken turns to denounce Trump's attack on the multilateral Iran deal, vowing that they would stick to their commitments under the accord despite the United States withdrawal.

A number of voices in Iran have suggested the deal is unlikely to survive.

"Together, we emphasise our continuing commitment to the JCPOA".

Russian President Vladimir Putin and German Chancellor Angela Merkel spoke Friday and underlined their aim of preserving the deal and peace in the Mideast. Military tensions between Iran and Israel have already mounted, and oil prices are rising on the uncertainty. This, along with its diplomatic moves to orchestrate an end to the conflict, has put Moscow at loggerheads with the U.S. and Europe, which have intervened against the regime. "They have to meet somewhere in Europe". "America's position in the global banking system and the punitive measures they could take on countries and businesses in Europe that do business in Iran". Why shouldn't they? They got everything they wanted from the Obama administration, he said.

Basravi said the Rouhani government's "political health. hangs in the balance" as the administration has "married itself to this deal and championed it as the answer to all" of the country's economic woes.

Iran has warned it could resume uranium enrichment "without limit" in response to Trump's decision.



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