Europeans scramble to save Iran deal after Trump reneges

Europeans scramble to save Iran deal after Trump reneges

In one of a series of meetings, foreign ministers from Britain, France and Germany - signatories of the 2015 deal to stop Iran developing nuclear weapons - were to hold talks with Iranian Foreign Minister Mohammad Javad Zarif, amid concerns that the sanctions will also damage European business interests.

France, Britain and Germany have all said they will work with Iran to try to salvage the agreement.

Iran says it is ready to restart its nuclear programme on an "industrial scale".

The group will meet again in Vienna next week at the level of deputy foreign ministers in a special format within the nuclear deal on Iran's request and without the United States, which abandoned the accord last week.

Zarif's statement puts pressure on U.S. European allies and other parties to the deal to find a way to keep it alive despite Trump's efforts to ice it, said Suzanne Maloney, an Iran analyst at the Brookings Institution.

In an interview on CNN's State of the Union Sunday, Bolton was asked about his past hawkish comments on Iran in the wake of President Donald Trump pulling out of the Iran nuclear deal.

On May 9, President Donald Trump broke with his European allies to announce USA withdrawal from the global nuclear agreement with Tehran brokered by President Obama.

Economy Minister Peter Altmaier says Germany plans to stick to the Iran nuclear deal, but there's little he can do to prevent German businesses from following possible American sanctions to protect their interests in the United States.

Israel and its allies have blamed the Iranian Revolutionary Guards for initiating Thursday's exchange by launching missiles into the occupied Golan Heights.

However, the European Union (EU) is now rushing to shield Iran from these sanctions.

"The snap-back of US sanctions will have a major effect on shipowners and their insurers and Skuld and the IG are closely monitoring developments", Skuld said on its website. But should Tehran argue that USA sanctions-which are, after all, a serious violation of the agreement-are strangling investment in Iran, then it could drop out of the agreement all together and still claim that the United States is to blame.

German Economy Minister Peter Altmaier said he would work with affected companies to try to "minimise the negative consequences" of the USA move, adding: "That means, it is concretely about damage limitation".

The presidents very clear he wants to discuss the larger threat posed by Iran around the region.

Iranian President Hassan Rouhani is seen on Tuesday. The announcement triggered USA plans to reimpose sanctions on the Islamic Republic within roughly three to six months.

With the EU-US relationship under strain from the ongoing disputes over possible US tariffs on EU steel and aluminium imports, the divide over the Iran deal is another blight in the historic political and economic alliance.

"I think that will sink in, and we'll see what happens then".

Ultimately, it is up to Iran to decide whether to accept the agreement with limited benefits or imitate USA and depart.

Le Maire proposed creating a European body that would have the same kind of powers that the U.S. Justice Department has to punish foreign companies for their trade practices.

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