White House Open to Sanctioning European Companies That Do Business With Iran

15 May, 2018, 22:39 | Author: Teresa Adams
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These reported remarks come as Iranian Foreign Minister Mohammed Javad Zarif embarked on a diplomatic tour to try and save the nuclear deal.

Mr. Zarif arrived in Chinese capital city of Beijing early on Sunday and met with his Chinese counterpart Wang Yi before leaving Chnia for Russian Federation.

Earlier on Sunday, Iranian President Hassan Rouhani said Iran would remain committed to the deal "if the remaining five countries abide by the agreement".

Meanwhile, Lavrov said that Russian Federation and Europe had a duty to "jointly defend their legal interests" in terms of the Iran deal.

Khamenei said on Wednesday that Iran does not trust France, Germany and the United Kingdom to provide the "real guarantees" needed for Iran to remain in the agreement.

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US President Donald Trump withdrew America from the historic Iran agreement last week, but other nations, including the UK, France, and Germany, have said that they will continue to uphold it.

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

The EU, which along with Germany, France, Britain, Russia, China and the United States, signed the nuclear accord with Iran, does have some steps it can take to shield European business in Iran.

But European diplomats briefed on the Brussels meeting acknowledged that the EU support, however honest, risked looking hollow after Trump last week reimposed an array of wide sanctions on the Islamic Republic that will hit European companies investing in Iran. Under the deal, Iran undertakes to curb its nuclear activities and place them under total control of the International Atomic Energy Agency (IAEA) in exchange for removal of the sanctions imposed previously by the United Nations Security Council, the European Union and the United States over its nuclear program.

They include retaliatory sanctions, allowing the European Investment Bank to invest directly in Iran and co-ordinating euro-denominated credit lines from European governments.

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Le Drian expressed France's "determination to fight" so that the US decisions don't hurt those companies that have invested in Iran.

"The consequences of American sanctions go well beyond goods shipped by American companies, " Bolton said.

U.S. Secretary of the Treasury Steven Mnuchin also noted in an announcement that "sanctions will be reimposed subject to certain 90 day and 180 day wind-down periods".

"The Europeans, after the withdrawal of the U.S. from the deal, have found themselves forced to save the Joint Cooperative Plan of Action themselves", he added.

The Trump administration portrayed its rejection of the nuclear agreement as a response, in part, to Tehran's interventions in the Middle East, underpinning Israeli Prime Minister Benjamin Netanyahu's tough line towards Iran.

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But European diplomats were despondent.

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