Europe moves to safeguard interests in Iran after U.S. pullout

Iran's Foreign Minister Mohammad Javad Zarif disembarks from a plane

Iran's foreign minister on Tuesday hailed talks with the European Union to try to find a way to rescue the Iran nuclear deal after the U.S. pulled out as a "good start".

The leaders of Great Britain, Germany, and France, Theresa May, Angela Merkel and Emmanuel Macron called on all the participants to continue implementing the agreements fully.

President Donald Trump's announcement on Tuesday that the United States was exiting the 2015 nuclear accord was met with widespread dismay by its other signatories - Britain, China, France, Germany and Russian Federation.

Roth made the comments in Brussels ahead of a meeting due to take place there between Iran, France, Germany and Britain on Tuesday to discuss the nuclear deal. "The Europeans should not have to pay for the withdrawal from an agreement by the U.S., to which they had themselves contributed".

More alarmingly though, if the Trump administration carries through with the threat to sanction anyone doing business with Iran, then European companies-or our allies themselves-could be caught in the crossfire.

"At this point, we have to replace the United States, which as an worldwide actor has lost vigor, and because of it, in the long term, influence", Jean-Claude Juncker, the president of the European Commission, told Belgium's Flemish regional parliament.

Mohammad Javad Zarif will later fly to Moscow and Brussels to consult with the remaining signatories to the 2015 agreement denounced by President Donald Trump.

Israel and its allies have blamed Iran's Revolutionary Guards for initiating Thursday's exchange by launching missiles into the occupied Golan Heights.

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Measures could include retaliatory sanctions, allowing the European Investment Bank to invest in Iran and coordinating euro-denominated credit lines from European governments. Other officials called for putting "more teeth into talks with Washington", and asked, "Can't we defend what our own interests are?" That means that anyone, in any country, who does business with Seif or Tarzali could themselves be punished with sanctions, cutting them off from the USA financial system.

The return of sanctions is likely to have "significant ramifications" for maritime trade with Iran, International Group of P&I Clubs, an umbrella organization whose members cover 90 percent of the global tanker fleet against risks including oil spills, said on Wednesday. Citing data from the Stockholm International Peace Research Institute, the newspaper explained that Iranian military spending has increased by only about 30 percent from 2015, the year the Iran deal was reached, to last year. But should Tehran argue that USA sanctions-which are, after all, a serious violation of the agreement-are strangling investment in Iran, then it could drop out of the agreement all together and still claim that the United States is to blame. "They will never abandon the United States for us", said housewife Poormoslem.

"We do not see ourselves as a mediator between Iran and the United States", he said.

It took more than 10 years for European Union and the member states - U.K., France and Germany - to create the deal, which with all its shortcomings did fulfill the goal.

Mogherini says she has been reassured about Iran's intentions by the declarations of President Hassan Rouhani. US 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.

Le Maire proposed creating a European body that would have the same kind of powers that the U.S. Justice Department has to punish foreign companies for their trade practices.

Europe may be ready to treat Trump as adversary.

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