Friday, 25 May, 2018

Iran and Europe try to save nuclear deal

Mark Bentley 
Lira hits new low of 4.37/$.Central bank intervention today Mark Bentley Lira hits new low of 4.37/$.Central bank intervention today
Laurie Berry | 16 May, 2018, 23:07

Trump also said he planned to reintroduce the highest level of economic sanctions on Iran.

In Beijing, Zarif met with Chinese Foreign Minister Wang Yi who reiterated Beijing's support for the deal, according to state media Xinhua.

"[But] if the nuclear deal is to continue, the interests of the people of Iran must be assured".

Changing the regime in Iran is "not the policy of the administration", Bolton said on ABC.

He said that because of the deal, Iran was able to take advantage of turmoil in the region to advance its interests all across the Middle East, in Iraq, in Syria, in Lebanon, in Yemen, so that the consequences of being able to sell Iranian oil without restriction on the worldwide market were providing them resources not just for their nuclear programme, not just as the world's central banker of global terrorism, but conventional hostilities across the region as well.

"What we are going to do tomorrow in Brussels is we are going to have a conversation about what we can do to help United Kingdom firms, European firms have some confidence that they can still do business", Johnson said.

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".

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

President Donald Trump delivered on his election promise of making America pull out of the Iran nuclear deal which was signed in 2015.

All foreign businesses operating in Iran will be required to "wind down" activities or "risk severe consequences", the statement added, in effect threatening billions of dollars worth of business deals.

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

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.

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

"French President Emmanuel Macron called Trump to express his concerns over rising tensions in the Middle East region after US" decision to pull out from the JCPOA accord. This, along with its diplomatic moves to orchestrate an end to the conflict, has put Moscow at loggerheads with the United States and Europe, which have intervened against the regime.

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

Among them is the possible use of an EU "blocking regulation" which would, in essence, ban European companies from respecting American sanctions when the sanctions might damage EU interests, notably trade and the movement of capital.

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

Denmark's Maersk Line said it had ceased acceptance of the specific cargoes blacklisted by the US Treasury this week.

"I heard one of the primary industry representatives postulating that it might mean, if nothing else, that it's more hard to increase exports to iran who, of course, used to be a much larger trading partner of New Zealand than they are even now", Mr Parker said.

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

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