Published: Wed, May 16, 2018
Global News | By Blake Casey

French anger at US sanctions on Iran

French anger at US sanctions on Iran

Ship insurance was a critical hurdle when sanctions were previously imposed on Iran because tanker operators couldn't obtain the level of cover that's considered standard across the oil industry. "I cannot talk about legal or economic guarantees but I can talk about serious, determined, immediate work from the European side".

The top diplomats of Britain, France and Germany were meeting in Brussels with Iranian Foreign Minister Mohammad Javad Zarif and the European Union's chief diplomat, Federica Mogherini. "A lot depends on what we can do within the next few weeks".

Le Maire said Paris would seek to strengthen Europe's ability to block sanctions and provide investment finance to companies. "It's clear that there should also be economic incentives - that will not be easy after the USA decision", Maas said.

First, as long as the other nations of the world agree to not place additional sanctions on Tehran in exchange for its continued compliance, whatever unilateral measures the Trump administration applies will be isolated and ineffective.

There was no immediate comment Tuesday night from Iranian officials. In return, Iran agreed to take concrete steps to curb its nuclear program, limiting it to strictly peaceful applications, and to allow comprehensive inspections of key nuclear facilities by the International Atomic Energy Agency (IAEA) to ensure compliance.

Theresa May reiterated the UK's position on the Iran deal during a phone call with President Trump on Friday, and noted the commitment from the United Kingdom and European partners in preventing Iran from developing a nuclear weapon.

"What was significant is that Zarif reaffirmed their will to stick to the agreement if we find a way to help them a little", a senior European diplomat said.

Zarif is setting off on a whirlwind diplomatic tour, in an attempt to maintain trade relations with the other countries that are party to the deal.

The commitment of other partners to the Iran deal should be respected, said Le Drian, adding that the effects of the U.S. move were already being felt in rising oil costs and an increase in political uncertainty in the Middle East. The foreign ministers of Britain, France, and Germany are preparing to meet with Iranian officials on Monday to determine how the agreement can be preserved without the United States' cooperation.

Iranian Foreign Minister Javad Zarif center leaves after a meeting with European Union foreign policy chief Federica Mogherini at the Europa building in Brussels on Tuesday

The two leaders agreed for their teams to hold discussions on the potential impact of USA sanctions on firms doing business in Iran.

But the reach of the USA financial system, the dominance of the dollar and the presence of European companies' operations in the United States all weaken any potential EU measures.

The leaders of the 28 nations of the European Union plan to discuss their response to the US pullout at a Wednesday summit in Bulgaria.

Now EU officials say they are revamping the statute to avoid the latest United States restrictions on firms doing business with Iran.

Simultaneously, the country would make preparations to restart its programme of nuclear enrichment, he added, as per CNN.

Ushakov said Putin will discuss the USA withdrawal from the Iranian deal with German Chancellor Angela Merkel and French President Emmanuel Macron, who are set to visit Russian Federation later this month.

Changing the regime in Iran is "not the policy of the administration", Bolton said on ABC.

Iranian President Hassan Rouhani is seen on Tuesday.

India Imports almost 80% of crude oil it consumes also it exports about 17% of oil imports from Iran, thus any future USA sanction may have an impact on it.

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