Published: Fri, July 06, 2018
World Media | By Shelia Harmon

Germany says Iran package will not fully compensate for USA sanctions

Germany says Iran package will not fully compensate for USA sanctions

Late on Thursday, Iranian President Hassan Rouhani had described as "disappointing" a package presented to him earlier by European countries.

Foreign Minister Mohammad Javad Zarif, who was with Rouhani in Europe, said on Monday the foiled Villepinte attack was a "false flag ploy" to harm Iran and offered his country's help in investigating the matter.

Foreign ministers of Iran and the five remaining parties to the nuclear deal, officially known as the Joint Comprehensive Plan of Action (JCPOA), are scheduled to meet in Vienna on Friday to discuss ways of maintaining the global accord after the US pullout.

"We have agreed ... that the experts of the Joint Commission of the Joint Comprehensive Plan of Action (JCPOA) would consider ways that would allow [us] to stick to our commitments taken under the [agreement] independently from the US, " Lavrov told journalists following a ministerial meeting of the parties to the Iran deal.

They are trying to present this as a response to an Iranian "threat" to close the area.

The other signatories - Britain, France, Germany, China and Russian Federation - have vowed to stay in the accord but appear powerless to stop their companies pulling out of Iran for fear of United States penalties.

Germany's Foreign Minister Heiko Maas speaks during a news conference in Dublin, Ireland, April 12, 2018.

Under the JCPOA, Iran undertook to put limits on its nuclear program in exchange for the removal of nuclear-related sanctions imposed against Tehran. Further sanctions on oil and transactions with the central bank of Iran will come into effect November 6.

Meanwhile, EU foreign policy chief Federica Mogherini said Iran and the remaining parties to the JCPOA have agreed to continue talking, including on economic measures, over how to save the nuclear deal after the USA withdrawal.

Iran has warned that it may walk away from the deal unless other signatories "guarantee" that it will continue to benefit. The bank now has a policy of not lending to Iran and other countries listed as high-risk by a global terrorism financing watchdog.

"We've made some progress, including on safeguarding some crude (oil) sales, but it's unlikely to meet Iranian expectations".

Also, the bank has expressed concerns that it will have difficulty raising money in financial markets if it defies the USA sanctions.

Trump pulled the United States out of the multinational deal under which sanctions on Iran were lifted in return for curbs on its nuclear programme verified by the International Atomic Energy Agency (IAEA).

Iran's economy is already suffering from the sanctions that Washington re-imposed after walking away from the nuclear agreement, and the US has threatened to punish companies from other nations that continue doing business with Iran.

"If we have hope of future, we'll continue cooperation with Europe", Rouhani said.

Since Trump's announcement, Iran's rial currency has fallen, prices have risen and the country has been hit by street protests and strikes.

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