Friday, 17 August, 2018

European Union and Iran seek to save nuclear deal after U.S. pullout

John Bolton: Leaving Iran deal makes America safer (Commentary) Iran does not want 'new tensions' in Mideast: Rouhani
Steven Clarke | 16 May, 2018, 14:05

That is part of a flurry of diplomatic activity following Tuesday's unilateral withdrawal from what US President Donald Trump called "a frightful, one-sided deal", a move accompanied by the threat of penalties against any foreign firms doing business in Iran. Even if the USA desire to renegotiate a new deal is actualised-a prospect Iran has dismissed-it is unlikely a new agreement could be reached soon (the original deal took 12 years of talks).

John Bolton went on TV yesterday to make it clear that the United States will sanction European companies that continue to do business with Iran.

"Iran and Russia should guarantee our common interests, which are to preserve the deal and ensure economic benefits for all participants", RIA Novosti news agency quoted Iranian Foreign Minister Mohammad Javad Zarif as saying on Monday following talks with his Russian counterpart Sergei Lavrov in Moscow. For instance, next week, Airbus is expected to announce whether it will continue with a 15 billion pounds deal to supply Iran with 100 commercial airliners.

In the past week, it has slapped a new series of sanctions against Iran.

Mrs Merkel and French President Emmanuel Macron reached out to Iran last week to urge it stick to its commitments under the accord. That doesn't mean that Iran will start working on nuclear weapons right away, however, because it can't.

Earlier in the week, France, Germany and the United Kingdom expressed "regret and concern" over the US' withdrawal.

Washington's decision to withdraw from the deal and reimpose sanctions angered its European allies as well as China and Russian Federation.

Iran's ambassador to New Zealand Jalaladdin Namini Mianji told Morning Report New Zealand companies would risk losing trade deals if the country adhered to US President Donald Trump's threat of imposing sanctions.

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The most significant agreements Iran signed with foreign companies included commercial aircraft to modernise its ageing fleet.

However, the sanctions for now only affect companies that operate out of the US or have significant exposure there.

Let's get real. Iran seeks to subjugate the Arab states within an Iranian caliphate, or simply to impose its version of Islam on the entire Arab world directly or indirectly through its proxy states, such as Lebanon and Syria.

Calling the accord as an "embarrassment" that was "defective at its core", he also warned of severe consequences if Iran resumes its nuclear programme. The latet unsafe development is possibility of a military showdown between Israel and Iran inside Syrian territory, and perhaps even beyond.

In his own homeground, Trump's withdrawal announcement has come under severe criticism. Creating unrest in Iran could cause a spillover in the rest of West Asia, the most incandescent region in the world, and would lead to the creation of more refugees.

Trade is another reason European Union will be looking to save the deal. France-Iran trade also took a hit in 2006, but it grew 118 percent from January-October 2017 when the sanctions were lifted.

Now, companies and banks from countries that have lived up to their commitments under the JCPOA stand to suffer considerably, as a result of their legitimate business ties with Iran. These exports include boilers, pharmaceutical and chemical products, vehicles, machinery, aircraft, plastics, spacecraft, nuclear reactors, etc. "At this point", he reportedly declared, "we have to replace the United States, which as an global actor has lost vigor, and because of it, in the long term, [has lost] influence".

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