US threatens to impose sanctions on European companies doing business with Iran

Workers inspect a Peugeot 508 at the Iran Khodro car factory in Tehran Iran Wednesday

On the plus side, oil prices have risen as a no-brainer effect of Trump's withdrawal from the Joint Comprehensive Plan of Action-so Total's shares are up too.

Zarif further censured the U.S. under Trump for developing the habit of voicing opposition to global deals and regulations.

Iranian Foreign Minister Mohammad Javad Zarif says Russian Federation has confirmed its preparedness to respect the seven-party nuclear agreement reached in 2015 despite the U.S. pullout. These interests might necessitate returning to 1990s-style blocking legislation that could shield European firms from having to comply with extra-territorial sanctions, an issue that EU officials have already met to discuss. Iran's ambassador to the United Kingdom also tweeted about the call.

"We are working on finding a practical solution", the EU's foreign policy chief said. "She said it was important to avoid provocative actions to ensure peace and security in the region", BBC reported.

According to Zarif, the objective of his trip is to get guarantees from the other participants of the nuclear deal that the interests of Iran will be protected. "We are talking about solutions to keep the deal alive". The withdrawal of the USA from the deal does not mean it has ended; however, it is an offense to European Union - one of the closest ally to the former nation.

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The U.S. exit, together with its threaten to sanction companies economically involved with Tehran, has sparked outrage in Europe. Whatever (is) decided should preserve and guarantee Iran's rights. In 2015, French lender BNP Paribas was slapped with a $9 billion fine after US prosecutors accused it of violating sanctions against Iran as well as Sudan and Cuba. On Wednesday, Iran launched some 20 missiles from Syria toward the Israeli-occupied Golan Heights, according to the Israeli government. After Rouhani was relieved of his duties in 2005, Iran's nuclear dossier was eventually transferred to the UNSC, and the first in a series of escalating UNSC Resolutions (UNSCRs) against Iran were passed. "The path ahead begins with the need for a clear policy toward the future of Iran-and not the vague notion of regime change that's bandied about". This prospect comes with its own set of complications.

That's because the divide between the radical Muslim hierarchy in Iran and the West is not significantly larger than the divide between the radical Muslim hierarchy in Iran - and large parts of the rest of the Muslim world. Apart from this, energy prices would rise, trafficking would increase and terrorist activities would flourish.

The question is whether the remaining signatories - the so-called EU-3, Russian Federation and China - can deliver the benefits of the accord, including access to global oil markets, trade and investment, that enticed the Iranians to join the agreement.

Part of the flaw with the Iran deal that President Trump rejected was it enticed Europe and the United States into economic relations with Iran that would work against holding the country accountable for violations of the agreement, Bolton said. France-Iran trade also took a hit in 2006, but it grew 118 percent from January-October 2017 when the sanctions were lifted.

French President Emmanuel Macron has said he wants to secure a wider deal after the USA withdrawal with four pillars: limiting Iran's nuclear program in the short and the long term, restraining its ballistic missile program and curbing what the West views as its destabilising behaviour in Syria, Yemen, Iraq and Lebanon.

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