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With US out, others reaffirm commitment to Iran nuclear deal

With US out, others reaffirm commitment to Iran nuclear deal

President Hassan Rouhani has said a package proposed by the European Union trio of Germany, France and Britain on how to save the 2015 nuclear deal with Iran is "disappointing".

"The responsibility for the change of Iran's cooperation level with... falls on those who have created this new situation", he said, according to the Reuters news agency.

During the phone call, the German chancellor said that the discussion on details of the agreement should continue.

"We are trying to do it before sanctions are imposed at the start of August and then another set of sanctions in November".

Iran's remaining partners in the 2015 nuclear deal vowed Friday to keep the energy exporter plugged into the global economy despite the United States withdrawal and sanctions threat.

The pillars of the European Union's strategy are: European Investment Bank lending, a special measure to shield EU companies from US secondary sanctions, and a Commission proposal that EU governments make direct money transfers to Iran's central bank to avoid USA penalties.

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.

Iran is continuing to export oil despite United States attempts to prevent them from doing so, and there is no reason to think they're suddenly going to commit a series of acts of war in the Strait of Hormuz just to give the USA a pretext to attack them.

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Heading in to the talks, German Foreign Minister Heiko Maas conceded that the treaty nations would not be able to compensate Iran entirely for the loss of business from companies withdrawing, but said they would advise firms that want to continue investing and emphasize to Iran that leaving the deal "would have much greater disadvantages".

The European Union has scrambled to find ways to counter the sanctions and ensure that Iran continues to enjoy the benefits of global sanctions relief under the deal, which was granted in 2016 in exchange for curbs on Iran's nuclear activities.

Iran, which strongly denies ever seeking to build a nuclear bomb, has warned it could resume uranium enrichment for civilian purposes if the deal collapses.

"It would be meaningless that Iran cannot export its oil while others in the region can".

Other objectives Mogherini outlined included maintaining wider economic relations with Iran, financial channels, Iran's export of oil and gas, and the continuation of sea, land, air and rail transportation links. "Enough with the policy of appeasement and weakness regarding Iran".

Beyond the European Investment Bank plan, other elements of the European economic package that Rohani criticized as insufficient include a special measure to shield EU companies from the US sanctions and a proposal for EU governments to make direct money transfers to Iran's central bank to avoid USA penalties.

Since Trump's announcement, Iran's rial currency has fallen, prices have risen and the country has been hit by street protests and strikes.


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