With U.S. out, other countries reaffirm commitment to Iran nuclear deal

by Abel Hampton July 6, 2018, 22:18
With U.S. out, other countries reaffirm commitment to Iran nuclear deal

However, hopes of success were clouded after Iran's President Hassan Rouhani told French President Emmanuel Macron on Thursday that the European economic measures on the table did not go far enough.

The model set as revolutionary thinking with reliance on people, was in fact the foundation of pillars of sacred defense of the Iranian people in the geography of Islamic resistance, bringing historical triumphs against the Takfiri terrorists and proxy wars, he said.

The Vienna meeting Friday will discuss the European package of economic measures that aims to persuade Iran to stick with the deal, a European diplomat said without specifying the measures on offer.

He gave a similar message in a call to German Chancellor Angela Merkel, the president's website reported.

"We want to make it clear to Iran today that it still has economic benefits from this agreement", Maas told reporters.

"They must stop the threats so that we can find the solutions so that Iran can have the necessary economic compensations", Le Drian told RTL radio before traveling to Vienna.

While the other signatories have vowed to stay in the accord, dozens of European, Russian, and Asian companies have announced plans to pull out of Iran for fear of incurring USA penalties when sanctions are reimposed in November.

Iranian officials have said that key for them is to ensure measures that guarantee oil exports do not halt, and that Tehran still has access to the SWIFT global bank payments messaging system or an alternative.

German Foreign Minister Heiko Maas conceded that "we won't be able to compensate for all the effects of enterprises withdrawing from Iran because they see their American business interests threatened by the sanctions". But even when those sanctions did materialize, Iran did not block the strait.

Reuters reports that whether the bank will invest in Iran is in doubt. This was extrapolated by USA officials as a threaten to shut down all regional oil shipping, when it could just as easily be interpreted as noting that Iran can basically export its oil under the guise of it coming from other regional countries, which is common behavior during sanctions.

Also, the bank has expressed concerns that it will have difficulty raising money in financial markets if it defies the USA sanctions.

Iran's economy is already suffering from the sanctions that Washington re-imposed after walking away from the nuclear agreement, and the US has threatened to punish companies from other nations that continue doing business with Iran.

Trump pulled the United States out of the multinational deal under which sanctions on Iran were lifted in return for curbs on its nuclear program verified by the International Atomic Energy Agency (IAEA).

She said all sides would continue to look at ways to maintain the deal despite the re-imposition of United States sanctions.

Now, the threat of USA sanctions has increasingly darkened the outlook for Iran's economy, helping to stoke a plunge in the Iranian rial this year that has driven up prices and provoked street protests and strikes.

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