Top European diplomats plan to salvage Iran nuclear deal

Top European diplomats plan to salvage Iran nuclear deal

US President Donald Trump announced on May 8 the US would be withdrawing from the deal, which was signed under former President Barack Obama, saying it was "defective at its core". Additional cajoling from British prime minister Theresa May and German chancellor Angela Merkel had no effect either. No more taking them at their word; a verifiable end to Iran's missile programs, whether long- or short-range; No sunset - a permanent and verifiable end to Iran's nuclear ambitions. It still wasn't enough.

French exports soared from 562 million euros in 2015 to 1.5 billion in 2017, close to the sum seen prior to the reinforced sanctions against Iran. He chose the most extreme.

U.S. Secretary of State Mike Pompeo speaks during a joint press availability with South Korean Foreign Minister Kang Kyung-wha (not shown) after their meeting at the State Department in Washington, DC, U.S., May 11, 2018. "They agreed for talks to take place between our teams". Whatever their impressions might have been, that's not what came to pass.

Lavrov and Zarif will discuss the "possibility of preserving the Iran nuclear deal", according to Russian state media agency TASS.

In making his abrupt announcement last week, the President said "we can not prevent an Iranian nuclear bomb under the decaying and rotten structure of the current agreement". "German firms should lower their activities in Iran as soon as possible". So that leaves Europe as the wild card.

French Foreign Minister Jean-Yves Le Drian has said that his country intends to stay in the Iran nuclear deal.

"Do we accept that the United States is the economic gendarme of the planet?"

White House National Security adviser John Bolton said U.S. sanctions on European companies that maintain business dealings with Iran were "possible". European governments could reinstate "blocking statutes" that actually prohibit their firms from abiding by USA sanctions, or they could even threaten retaliatory sanctions against U.S. firms.

"We are ready to talk to all the companies concerned about what we can do to minimise the negative consequences", Altmaier told Deutschlandfunk radio.

Even though WTI is a domestic crude benchmark and Brent is an global benchmark, gasoline prices in the United States tend to follow Brent. Trump has ceded global leadership to Europe and others.

Zarif's delicate diplomatic mission was complicated by reports of clashes between Iranian and Israeli forces in Syria on Thursday.

Germany said it would spend the next few months trying to persuade Washington to change its mind.

The European Union could have a lot to lose if forced to pull out of their economic dealings with Iran.

We must confront the threat the Iranian regime poses to the region it seeks to dominate, as well as to the world through its sophisticated state-sponsored army of terror embedded on every continent. And if it gives Netanyahu's polling numbers a boost in the process, even better.

Mehrdad Emadi, an economic expert and consultant at the UK-based Betamatrix International Consultancy, believes that the re-imposition of the U.S. sanctions against Tehran will not cut the country's oil export to below the pre-nuclear deal period in short term, but in medium term it can seriously impact Tehran's oil sale.

Moscow would have to play a key role in ensuring Tehran does not resume its nuclear program, he added.

Russian Federation will comply with its liabilities within framework of the Joint Comprehensive Plan of Action regarding the Iranian nuclear program to reconfigure the Fordow enrichment facility.

French carmaker PSA, which holds a whopping 30 percent market share in Iran, in 2017 announced a distribution deal with Iranian vehicle company DS. More telling, senior members of Trump's own administration have done the same.

The signs of escalation are already mounting.