Iran envoy embarks on support tour after USA withdrawal from nuclear deal

Oil hits $77 for first time since 2014 after Trump scraps Iran nuclear deal - business live

Federica Mogherini said the ministers shared a willingness to "arrive at practical solutions" for keeping the 2015 deal going despite the decision of U.S. President Donald Trump to abandon the agreement.

After the U.S. walked out of the Iran deal, the U.S. will be targeting Iran's crude oil sales, and sanctions previously lifted under the deal will be re-imposed following a 180-day wind-down period, the U.S. Treasury said.

Arguing the nuclear deal wasn't tough enough on Iran, Trump's government is now re-imposing sanctions, and any companies or governments with links to the US face sanctions if they do not comply.

Mogherini said "expert talks" on relevant financial and economic issues such as banking transactions and oil would begin soon and the deputy foreign ministers from the three European nations and Iran would meet in Vienna next week.

Bolton struck a more hawkish tone with his comments in an interview with CNN's State of the Union than Pompeo did when he was interviewed on Fox News Sunday.

U.S. President Donald Trump said on Tuesday the United States was exiting an global nuclear deal with Iran and would impose new sanctions that seek to reduce oil exports from OPEC's third-largest producer. After long negotiations, Iran had agreed in July 2015 to freeze its nuclear programme in return for the lifting of punishing worldwide sanctions. Trump disclosed a phased reimposition of punitive sanctions, which will further damage an already weakened Iranian economy.

French Foreign Minister Jean-Yves Le Drian, speaking in Dublin, declared: "We are stakeholders" and will remain so.

Despite the U.S. exit, Britain and Iran expressed their commitment to ensuring that the accord is upheld, according to a statement released by British Prime Minister Theresa May's office. German Foreign Minister Heiko Maas acknowledged, however, that protecting European companies from potential United States penalties could be hard.

"Should the governments decide to comply with U.S. demands, the refineries - as was seen in Europe and Japan - will have to make the necessary adjustments to process crude from other countries", Emadi said.

Part of the flaw with the Iran deal that President Donald Trump rejected was it enticed Europe and the US into economic relations with Iran that would work against holding the country accountable for violations of the agreement, Bolton said.

"This agreement remains important for our shared security", a joint statement signed by French President Emmanuel Macron, German Chancellor Angela Merkel and UK Prime Minister Theresa May said on Tuesday.

Tehran has said it wants guarantees that the economic benefits the deal brought will continue if it is to stick with it and Zarif warned he expected to see progress "within the next few weeks". They were trying to take over the Middle East by whatever means necessary.

Iran had never made a strategic decision to give up its nuclear weapons programme, US National Security Advisor John Bolton said today, asserting that Tehran gained economically from the nuclear deal inked during the previous Obama administration.

It was widely believed to have been a successful piece of global diplomacy at the time, but Trump repeatedly referred to the deal as being the "worst ever" during his election rallies, pointing out that it made no mention of the Iranian ballistic program or the overall influence Iran exerted in the Middle East.

Germany's minister for economic affairs, Peter Altmaier, said on Sunday that Berlin would try to "persuade the USA government to change its behavior". On Saturday, French President Emmanuel Macron told Trump in a telephone call that he was anxious about stability in the West Asia, according to Macron's office.

As a private citizen, Bolton suggested in the past that the United States push for a change in Iran's government.

"It's quite possible that surging United States shale production could easily fill the gap left by Iran", Eberhart said.

Russian Federation has also criticised Trump's decision, with Kremlin spokesperson Dmitry Peskov alleging the move was "protectionism in disguise", in comments made on Thursday to state news agency TASS.

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