Published: Wed, September 26, 2018
Worldwide | By Sean Reid

Iran nuclear deal: Plan put forward to dodge U.S. sanctions

Iran nuclear deal: Plan put forward to dodge U.S. sanctions

USA officials say they are ramping up pressure on allies and adversaries alike with a goal of shutting down all Iranian oil and gas exports by November 4, following Mr. Trump's decision to pull out of the worldwide nuclear accord with Tehran in May.

In May Trump pulled out of a 2015 worldwide nuclear agreement with Iran and demanded it be renegotiated with tighter restrictions on Iran's nuclear program and its missile development.

The breakthrough came after a meeting between Iran and other signatories of the 2015 Iran nuclear deal, Britain, France, Germany, Russia, China on the United Nations General Assembly in New York, US.

Iran has ample reason to stay in the 2015 nuclear deal despite the US withdrawal and the remaining parties on Monday will discuss ways to blunt the effect of impending USA sanctions on Tehran, the European Union's foreign policy chief said.

The United Kingdom, France, and Germany have signed an agreement with Russian Federation and China to circumvent USA sanctions on Iran.

They also said that they wanted to "protect the freedom of their economic operators to pursue legitimate business with Iran".

The joint statement said the six countries that signed the 2015 nuclear agreement "reconfirmed their commitment to its full and effective implementation in good faith and in a constructive atmosphere". As Mogherini put it, the more actions the JCPOA parties take to live up to their end of the bargain, the more reasons Iran has to remain in the deal.

It was spearheaded by the Obama administration and saw the lifting of worldwide sanctions.

In May, President Donald Trump announced that the USA would be pulling out of the Joint Comprehensive Plan of Action (also known as the Iran nuclear deal), which had been negotiated by the Obama administration.

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The US has also accused Iran of promoting worldwide terrorism, which Tehran vehemently denies.

Iran will keep on selling oil in defiance of United States attempts to prevent Tehran from reaping profits from its major export earner, according to the head of the Iranian delegation at Sunday's meeting of oil producers in Algiers.

The EU, US allies, and the worldwide nuclear watchdog, IAEA, maintain that Iran continues to abide by the terms of the agreement.

European Union foreign policy chief Federica Mogherini, speaking at the United Nations alongside Iranian Foreign Minister Mohammad Javad Zarif, said the countries were still working out the technical details.

"The key is to keep all possibilities open so that we can signal to the Iranians that the door isn't closing", said a senior French diplomat. There will be an exchange of European goods without to Iranian oil, it won't involve money.

"There will be no involvement of commercial banks and central banks, both of whom are terrified at the prospect of United States retribution if they are seen to be going against USA sanctions".

"I think it reflects the kind of the attitude that the Europeans have had about the decision by President Trump", he told Al Jazeera in an interview from Sydney, Australia.

"So the Europeans want to try and save the agreement and they're seeing this as really the last chance".

"They have been quite upset about going against global norms of pulling out of the agreement".

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