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United States move on Iran threatens €143m Irish export trade

15 May, 2018, 22:39 | Author: Shawna Walton
  • Iranians hold anti-US placards and shout slogans during a demonstration after Friday prayers in the capital Tehran

When he quit the deal last week, U.S. President Donald Trump gave businesses a maximum of six months to wind up operations in Iran or face penalties under American sanctions.

EU foreign policy chief Federica Mogherini, who met Iranian foreign minister Mohammad Javad Zarif on Tuesday morning, said it was up to the European powers "to preserve a deal we have achieved together".

Iran has threatened to resume "industrial scale" uranium enrichment "without any restrictions" if it does not get guarantees that the trade ties which have been established with Europe since the deal was signed will be maintained.

Part of the flaw with the Iran deal that President Trump rejected was it enticed Europe and the U.S. into economic relations with Iran that would work against holding the country accountable for violations of the agreement, Bolton said.

On Sunday US Secretary of State Mike Pompeo said Washington still wants to work with Europe to counter Iran's "malign behavior".

Bolton expressed optimism that European allies will follow Trump's lead and exit the deal, despite the assertions of the leaders of France, the United Kingdom, and Germany that they intend to remain in the agreement.

So far, China, France, Russia, Britain, the European Union and Iran remain in the accord, which placed controls on Iran's nuclear program and led to a relaxation of U.S. economic sanctions against Iran and companies doing business there. In a separate interview on CNN's "State of the Union, " he said Iran's economic condition is "really quite shaky, " so the impact of sanctions "could be dramatic".

Mr Zarif said on his first stop, China, that he hoped to secure a "clear future design" for the agreement.

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

But the reach of the U.S. financial system, the dominance of the USA dollar, Trump's efforts to weaken the WTO and the presence of European companies' operations in the United States all weaken any potential EU measures. "We will try to uphold our side of the bargain".

However, President Trump has explicitly noted that United States hopes to reach a "fair" deal with Iran through new rounds of talks.

Russian Federation and Iran also sought to strengthen their business ties long before the 2015 agreement, despite worldwide sanctions in place.

Trump denounced the accord, completed under his predecessor Barack Obama, as a "horrible, one-sided deal that should have never, ever been made" as it did not cover Iran's ballistic missile programme or its role in Middle East conflicts.

A number of voices in Iran have suggested the deal is unlikely to survive.

"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.

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