Trump's Iran nuclear deal withdrawal has oil shippers in limbo over insurance

Europeans scramble to save Iran deal after Trump reneges

Germany and France have significant trade links with Iran and remain committed to the nuclear agreement, as does Britain, and the three countries' foreign ministers plan to meet on Tuesdayto discuss it.

Putin's foreign affairs adviser Yuri Ushakov said Friday the deal between Iran, Russia and other members of the Moscow-dominated Eurasian Economic Union is set to be signed next week.

Maas said the Europeans wanted to ensure that Iran would continue to abide by the rules and restrictions of the nuclear agreement.

Britain's Foreign Minister Boris Johnson was blunt about the chances of avoiding USA sanctions that also seek to prohibit foreign companies from doing business with Iran. They remain deeply dependent on the United States for security guarantees against Russian Federation - something Trump has grumbled about - and are in the middle of negotiations over an exemption to new USA tariffs on steel and aluminum.

Thousands later demonstrated across the country to protest President Donald Trump's withdrawal from the nuclear deal.

Israeli airstrikes struck Iranian military installations inside Syria on Thursday - its biggest coordinated assault on Syria since the 1973 Mideast war - in retaliation for an Iranian rocket barrage on Israeli positions in the occupied Golan Heights.

In exchange, global sanctions against Iran were lifted, allowing it to sell its oil and gas worldwide. Other officials called for putting "more teeth into talks with Washington", and asked, "Can't we defend what our own interests are?"

"In the end, the size of the USA market dwarfs any prospect of any benefit they can get from Iran", Maloney said.

"In the years since the deal was reached, Iran's military budget has grown by nearly 40 percent, while its economy is doing very badly", Trump said during the speech.

The accord had provided Tehran with relief from sanctions in return for curbs on its nuclear programme. However, Israel has continued to accuse Iran of its under-handed practices regarding the country's nuclear power program.

India Imports almost 80% of crude oil it consumes also it exports about 17% of oil imports from Iran, thus any future United States sanction may have an impact on it. As of now, there's yet to be a step change in owners' approach to Iranian business, he said.

"I am hopeful in the days and weeks ahead we can come up with a deal that really works, that really protects the world from Iranian bad behavior", Pompeo said.

But the government of President Hassan Rouhani faces political challenges at home, where the economy was already suffering high unemployment and inflation before Trump's decision.

The statement said "the Iranian regime's reckless actions pose a severe threat to regional peace and security".

The sanctions, imposed by Trump on Tuesday, would also be backed up secondary sanctions which would penalise countries whose companies continue to trade with Iran. Minister Zarif, in turn, said it had turned into a habit for USA government to violate worldwide law. USA officials were reaching out Tuesday to central banks in other countries in the Middle East and Europe to inform them of the sanctions and encourage them to immediately freeze assets the bank has overseas.

Each company and bank will have to decide whether to risk being cut off from the US financial system.

"The consequences of American sanctions go well beyond goods shipped by American companies", Bolton said.

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