Russian firms to gain from US' Iran withdrawal

Russian firms to gain from US' Iran withdrawal

The Japanese FM on Wednesday had said his country is unhappy with the USA withdrawal from Iran deal and will make efforts to preserve it.

Europeans are the biggest foreign investors in Iran since 2015, with Germany's Daimler and France's Total leading commitment to the country.

EU leaders aim to show a united front on preserving the Iran deal when they meet for a pre-summit dinner in Sofia on Wednesday, European Council President Donald Tusk said. As a result of that assessment, it was concluded that any payload option other than nuclear which could also be expected to have an airburst option (such as chemical weapons) could be ruled out. The deal allowed Iran to reconnect the machines and eventually build an industrial-scale enrichment program starting in 2025.

"The US has systematically forced Iran to turn more towards Russian Federation and China", he told AFP.

But analysts said Iran was determined to maintain the moral high ground in the coming weeks.

The three European allies and Russian Federation are trying to keep the landmark 2015 accord alive in the wake of U.S. President Donald Trump's decision, pushing Moscow into rare cooperation with Europe.

Ahead of the meeting, Mr Johnson said: "We are going to have a conversation about what we can do to help United Kingdom firms and help European firms have confidence that they can still do business". "They moved very quickly when it was time to implement the deal and they can move very quickly if they decide to undo it".

"We are analyzing the situation and the impact of the [US] announcement on all our contractual agreements and we will then first discuss with our customers", Airbus said in a statement on Monday.

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.

But it's not clear if those European efforts would succeed.

Zarif made no mention of the flare-up with Israel, but said the country had the right to defend itself, particularly in the light of the eight-year war with Iraq that began when the regime of Saddam Hussein invaded Iran in 1980.

Each company and bank will have to decide whether to risk being cut off from the US financial system. In the aftermath of the 2015 worldwide nuclear accord, in which nuclear sanctions on Iran were lifted, Seid was a prominent voice complaining that Iran was still being kept out of the global financial system and not receiving the economic benefits it was promised in exchange for curtailing its nuclear program.