Published: Fri, July 06, 2018
Worldwide | By Sean Reid

Vienna meet on nuclear deal supports Iran's continued oil, gas exports

Vienna meet on nuclear deal supports Iran's continued oil, gas exports

The foreign ministers of Iran and five world powers meet to try to salvage the nuclear deal two months after President Donald Trump announced a unilateral U.S. withdrawal. "To save the deal, other signatories should compensate for US sanctions", a senior Iranian official told Reuters on Friday.

They are trying to present this as a response to an Iranian "threat" to close the area. The remaining parties have vowed to stay in the accord. "Above all we will try to create the conditions for that".

The first group of sanctions on Iran's automotive sector, gold trade, and other industries will "snap back" on August 4.

He added that Europe must translate its commitment and measures into action before the re-imposition of the USA sanctions on Tehran.

"We advise businesses that want to keep investing (in Iran), we want to keep payment systems open, and we want to build security through widening the mandate of the European Investment Bank", he said.

He noted that he would inform Iranian officials on the Friday meeting and "most senior level" authorities would make the final decisions about the time and details of future steps.

Even though Iran's Foreign Minister Mohammad Javad Zarif said that the United States actions "de-facto disrupted the agreement", thus giving Iran a right to withdraw from it as well, the Islamic Republic would not exercise this right, according to Lavrov.

Speaking at a news conference in Vienna on Tuesday, Wang described the scheduled ministerial meeting as "necessary".

Unlike at past meetings, Mogherini took no questions.

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She said all sides would continue to look at ways to maintain the deal despite the re-imposition of USA sanctions. "We are trying to do it (economic package) before sanctions are imposed at the start of August and then the next set of sanctions in November". "Enough with the policy of appeasement and weakness regarding Iran".

The Iran nuclear deal looked in doubt on Friday as European powers failed to convince Tehran that they would be able to fully compensate for economic losses caused by the US's exit. It has been putting pressure on its allies ever since, seeking in particular to make them reduce oil imports from Iran.

"The US [officials'] statement in this regard is unilateralism...and a breach of all global rules and regulations in energy and trade sectors", Rouhani said.

"We've made some progress, including on safeguarding some crude (oil) sales, but it's unlikely to meet Iranian expectations".

Al Jazeera's Jonah Hull, reporting from Vienna, said that in an "ideal world" the top diplomats would have come up with a package "to keep the deal alive".

Lavrov urged new ways of trading with Iran if Washington restores sanctions against Tehran.

Iran has warned that it may walk away from the deal unless other signatories "guarantee" that it will continue to benefit.

The Iranian president said, "After the United States unilateral and illegal exit, Moscow has an important role in the reinforcement of the JCPOA and fulfillment of the opposite sides' commitments".

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