Iran builds new centrifuge rotor factory: Nuclear chief..

Blanche Robertson
July 22, 2018

The other signatories to the deal - the European Union, China and Russian Federation - want to salvage the accord to prevent Tehran from developing a nuclear weapon.

The British official named banking issues as the main challenge on the way of boosting Iran-Europe trade which should be coped with as soon as possible.

Russia's energy minister has been quoted as saying that a deal under which Russian Federation would provide goods to Iran in exchange for oil was "possible".

In a bid to save the accord, the EU and European parties to the deal - Britain, France and Germany - presented a series of economic "guarantees" to Iran this month, but these were judged "insufficient" by Tehran.

Although the ongoing exposure of these and other activities promises to strengthen the United States government's commitment to a hardline policy while also encouraging participation from European authorities, the Iranians are still making every effort to evoke a tone of confidence.

Tehran and Washington are yet to comment on the report.

Since the 2015 deal, Iran has purchased yellowcake from Kazakhstan and Russian Federation, as well as mined its own domestically. The Trump administration has also implemented a number of new sanctions, many of them targeting the Iranian Revolutionary Guard Corps. The US then urged all its allies to cease importing oil from Iran by November.

"We are determined to convince the Iranian leadership that this malign behavior won't be rewarded and that the economic situation in the country will not be permitted to be rectified until such time that they become a more normal nation", Pompeo said.

European leaders, who had personally lobbied Trump against a withdrawal, were irked by the United States president's disregard for their calls.

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But the European parties to the deal are also willing to sustain it because it both benefits them economically through trade (which the "blocking statute" is created to protect) and keeps nuclear restrictions on Iran, too.

On the issue of USA sanctions, India has been maintaining that it will go by what is in the country's national interest.

Intense diplomacy is underway to work out details on whether the deal can potentially continue to stand.

The European Investment Bank (EIB) would put at risk its model business if it were active in Iran, the organization's president Werner Hoyer said.

The five other world powers that signed the nuclear deal-the UK, France, Germany, Russia and China-have refused to resign from what they see as a valuable and functional pact but their companies now face secondary sanctions from the United States if they continue to do business with Iran.

Iranian Foreign Minister Mohammad Javad Zarif has also said Europe needs to move beyond rhetorical backing for the deal.

India is engaged with Iran for a "long-term partnership" on energy trade, and for operating the port of Chabahar, Minister of State for External Affairs General (Retd.) V. K. Singh informed the Lok Sabha on Wednesday. "We have just received the answer, and it's negative", he said.

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