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Iran nuclear deal: The EU's billion-dollar deals at risk

15 May 2018

"The prime minister raised the potential impact of USA sanctions on those firms which are now conducting business in Iran", her spokeswoman said.

Iran's Foreign Minister Javad Zarif described his government's reaction to President Trump's decision on Tuesday to re-impose us sanctions on foreign companies that do business with Iran, in a statement posted to Twitter on Friday.

Iran has been in discussions with countries involved in the 2015 agreement in an attempt to save the deal after the United States withdrawal.

President Donald Trump announced on Tuesday that the U.S. will withdraw from the nuclear deal with Iran and reinstate economic sanctions against Tehran. Britain, France, Germany, Russia and China are still signed on to the deal.

The exit drew swift criticism from the deal's other signatories, including USA allies in Europe who'd tried for weeks to convince Trump to remain on board and said they plan to keep their commitment to the deal.

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The open question is whether the allies, and above all Iran, will agree to resume full-fledged talks, having just seen the United States withdraw from the 2015 Iran nuclear deal and renege on its promises under the landmark arms control accord.

If I were the head of any other country, say for example, North Korea, I would now be filing the U.S. in my Rolodex with a note, "Promise them anything but don't trust them, keep your guns loaded and watch your back".

During the last round of sanctions, Iran's oil supplies fell by around one million bpd, but the country re-emerged as a major oil exporter after sanctions were lifted by producing 3.81 million bpd in March 2018.

Trump has frequently voiced his opposition to the "insane" deal, which he has described as the "worst ever".

Andy Critchlow, head of EMEA energy content at S&P Global Platts, said, "I think it is hard to believe that there won't be some gamesmanship the next time that we gather in Vienna in June".

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"If you look at the advances that Iran has made under cover of this agreement, its conventional military and terrorist advances, in Iraq, in Syria, in Lebanon, in Yemen, since 2015, Iran was really on the march", Bolton told ABC's "This Week".

He added that because Donald Trump differs very much from his predecessors, he hasn't ruled out any punitive United States moves against Rosatom.

However, Iran remains upbeat on its oil production and supply abilities despite that development. United States oil output reached another record high last week, hitting 10.7 million bpd. Pertinently, North Korea believes it can at least rely on China as a buffer against potential United States aggression; Iran does not have a similar faith in Europe. According to USA Today, the increase we are now experiencing has already eaten into the money some families were hoping to save after the president's tax plan went into effect.

In fact, recently on "The View" I heard one of the women say, "We paid them", never clarifying that "We gave it back its money".

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Iran nuclear deal: The EU's billion-dollar deals at risk