Published: Mon, July 09, 2018
Global Media | By Derrick Guzman

Ministerial will signal keeping Iran N-deal: Wang

Ministerial will signal keeping Iran N-deal: Wang

Three European nations along with Russian Federation and China vowed at the meeting to keep the energy exporter plugged into the global economy despite the USA withdrawal and threat of renewed sanctions, including on Iran's key crude oil exports.

During a meeting in the Austrian capital of Vienna, Rouhani told Yukiya Amano, director general of International Atomic Energy Agency (IAEA), that Iran might reconsider its cooperation level with the international nuclear watchdog.

The meeting between Iran, Germany, Britain, France, Russia and China will consider proposals for salvaging the 2015 deal, known as the Joint Comprehensive Plan of Action, which is meant to prevent Tehran from developing nuclear weapons. We've made some progress, including on safeguarding some crude sales, but it's unlikely to meet Iranian expectations.

The European Union has already taken steps to shield European companies from USA sanctions, and it promises limited financial compensation to companies that are hit by the US measures.

"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. "We will have to see if it is going to be good enough for them", an European Union source added.

Friday's statement lists key fields to support Iran to secure its economic interests, including "the maintenance and promotion of wider economic and sectoral relations with Iran; the preservation and maintenance of effective financial channels with Iran; the continuation of Iran's export of oil and gas condensate, petroleum products and petrochemicals; the continuation of sea (including shipping and insurance), land, air and rail transportation relations", manly to shield the country's backbone of the economic sector from US sanctions.

Rouhani was quoted by state media and on his website after calls with French President Emmanuel Macron and German Chancellor Angela Merkel as having told them he was disappointed with their package which did not go far enough.

"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".

The Iranian President, Hassan Rohani, believes that the entirety of measures offered by the Europeans, to compensate for the effects of the United States government's withdrawal from Iran's worldwide nuclear programme, have not to date proven satisfactory.

Six people were arrested in Belgium, France and Germany, while the opposition group blamed the Iranian regime for the alleged plot.

The issue could be a distraction in the Vienna talks.

Any confirmation that Iranian authorities were behind the plot could make it politically hard for European leaders to continue to back the nuclear deal.

Like this: