Economy

Iran protesters chant anti-US slogans after nuclear deal pull out

Iran protesters chant anti-US slogans after nuclear deal pull out

Since the sanctions were lifted in 2016, major European companies, partly wary of the remaining US sanctions on Iran, have been reluctant to do business with Tehran, which needs to attract over $100 billion in foreign investment to boost its crude output.

Germany and France have significant trade links with Iran and remain committed to the nuclear agreement, as does Britain, and the three countries' foreign ministers plan to meet on Tuesday to discuss it.

European leaders have vowed they won't be dictated to by Donald Trump as they scrambled to save the Iran nuclear deal thrown into doubt by the US President.

President Donald Trump announced on Tuesday that the United States will withdraw from the nuclear deal with Iran and reinstate economic sanctions against Tehran.

UN Secretary General Antonio Guterres has urged Donald Trump not to walk away from an global deal created to prevent Iran acquiring nuclear weapons.

German Economy Minister Peter Altmaier said Friday Berlin was ready help its firms continue doing business in Iran in the face of looming United States sanctions.

All the other signatories to the deal had called on Trump to stay with the agreement and condemned his decision to leave - although Le Drian's criticisms are some of the most forceful yet from a key European ally.

The negotiations ended in 2015, when the United States entered into the Joint Comprehensive Plan of Action (JCPOA), an agreement widely known as the Iran Deal.

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Meanwhile, the USA government tried to further pinch Iran's finances by disrupting a currency exchange network allegedly used to transfer millions of dollars to Iran's Revolutionary Guard.

Iran is now back to being the third-largest supplier of crude oil to India, which had scaled down its purchases from the country when sanctions were in effect between 2006 and 2015.

"And I will work closely with the Europeans to try and achieve that".

He added that because Donald Trump differs very much from his predecessors, he hasn't ruled out any punitive U.S. moves against Rosatom. Analysts say China's presence in Iran will grow when the United States imposes sanctions.

"If you look at the advances that Iran has made under cover of this agreement, its conventional military and terrorist advances, in Iraq, in Syria, in Lebanon, in Yemen, since 2015, Iran was really on the march", Bolton told ABC's "This Week". The US benchmark, West Texas Intermediate also rose by $0.45 to $71.59 at the same time.

Reportedly, Saudi Arabia, Kuwait, the United Arab Emirates, the United States and Russian Federation have the required oil capacities to raise exports in the short term, while Kuwait, Abu Dhabi and Saudi Arabia have the necessary spare capacity to respond effectively to Iranian export reductions. It was paid to U.S contractors for weapons purchase from us before the regime change many years ago.

"We regret the decision by the United States to pull out, but we are still hopeful we are going to be able to keep Iran from developing nuclear weapons".

"The Europeans have repeated on several occasions that they will not be able to resist U.S. sanctions".