ibusinesslines.com September 21, 2018

Europe, Iran say push to save nuclear deal off to good start

17 May 2018, 09:19 | Kelvin Horton

Europe to seek exemptions from new US sanctions on Iran

Oil hits $77 for first time since 2014 after Trump scraps Iran nuclear deal - business live

Iran's foreign minister is due to meet for talks in Brussels this Tuesday with his German, French and British counterparts.

The New York Times reports that Iranian Foreign Minister Mohammad Javad Zarif met with European officials in Brussels in an attempt to preserve the 2015 deal negotiated by the Obama administration aimed at curtailing Iran's nuclear weapons program.

Zarif's hourlong meeting with Mogherini was in preparation of a wider discussion later on May 15 with the foreign ministers of three other European Union partners in the landmark deal: Germany, France, and Britain.

"We will now very carefully analyze the sanction-related steps announced by the United States", Siemens said in a statement on Monday "We have strictly complied with all relevant export control restrictions in the past and will continue to do so in the future".

"We stressed the commitment we all share to ensure that this will continue to be delivered and we agreed to this end to deepen our dialogue at all levels".

I wonder why they're still treating him with kid gloves?

Iranian officials have threatened to resume enrichment.

Mr Trump remained unconvinced the Iran agreement was anything but a "bad deal".

After the President threatened foreign firms that continue trading with Iran with "strong sanctions", Trump's national security adviser John Bolton told American TV he thought the United Kingdom and France would follow suit and ditch the 2015 deal. But the reach of the USA financial system, the dominance of the dollar and the presence of European companies' operations in the United States all weaken any potential EU measures. Mogherini said on Friday that "it seems that screaming, shouting, insulting and bully, systematically destroying and dismantling everything that is already in place, is the mood of our times.[But we have to] move on from the 'I win, you lose. approach". The European Union is also making a move to block the possibility of United States sanctions against European companies. Instead, Washington today finds itself in a high-risk, high-reward game of sanctions enforcement-not against its chief Middle Eastern adversary, but rather, against its major global partner.

It seems clear that, from Trump's perspective, the Iran deal and the diplomatic advances with North Korea are closely related - and that his policy of "maximum pressure" is paying off. They include retaliatory sanctions, allowing the European Investment Bank to invest directly in Iran and coordinating euro-denominated credit lines from European governments.

European commissioners will discuss sanctions-blocking measures on Wednesday, opening the way for European leaders to discuss the issue at a summit in Sofia later that day.

"The only way to avoid pain from these sanctions is negotiating with the USA, but the instruments are not easy to find", Volker Treier, deputy managing director of Germany's Association of Chambers of Commerce and Industry, said in an interview. In this scenario, Israelis and the Saudis would become even more vulnerable than they are now. Supreme Leader Ayatollah Ali Khamenei, not Rouhani, has the last say on all state matters. Still, surely by now the Europeans understand that Trump doesn't respond to "negotiations" or "complaints". It would be a wonderful thing if we could get the Europeans to do this.

Other News

Trending Now

Sports wagering is a freedom, not just a source of state revenue
All four major US professional sports leagues, the NCAA and the federal government had urged the court to uphold the federal law. Harkins believes the state could roll out sports betting in major casinos in time for the start of NFL football this fall.

NBCUniversal May Drop WWE Smackdown Live From Its TV Schedule
At the time, U.S. aired five hours of live WWE programming a week; WWE programming now airs two nights a week on USA. They're keeping RAW but the deal is so big (3x current value, I'm told) that they're not re-signing both.

Democratic Primary for Nebraska's 2nd District Remains Too Close to Call
Nebraska Governor Pete Ricketts is touting his conservative credentials on the national stage as he prepares for re-election. Nebraska voters started heading to the polls at 8am this morning to cast ballots in the state's primary election.

Corrected: Rupert Murdoch's son Lachlan to become Fox CEO after Disney deal
The company has declined to comment on reports that Comcast Corp is preparing a rival all-cash offer for the same Fox assets. Lachlan said: "We have worked through the winter 'standing up" a reimagined independent Fox.

Loved Ones Remember A Legend In the Full Whitney Trailer
But Miss Houston never told her mother Cissy Houston about the alleged abuse because she "was ashamed", according to her aunt. You can check it out the Miramax and Roadside Attractions in theaters (in North America) starting July 6.

Ozone-destroying emissions are on the rise and scientists don't know why
This, in turn, will delay the ozone layer's recovery, and in the meantime leave it more vulnerable to other threats. But in 2012 scientists noted that the rate of decline had slowed by 50 per cent, according to the new study.

Italy's 5-Star, League on Verge of Government Deal; Markets Shudder
They have both vowed to scrap an unpopular pension reform - a move that would punch a 15-billion-euro hole in state coffers. However, three 5-Star sources said the main stumbling point remained who should head the administration.