Trump gambles on different path to rein in Iran's nuclear ambitions

Oil hits $77 for first time since 2014 after Trump scraps Iran nuclear deal - business live

Oil hits $77 for first time since 2014 after Trump scraps Iran nuclear deal - business live

The United States' top diplomat said on Sunday Washington still wants to work with its European partners on an agreement to counter Iran's "malign behaviour" as President Donald Trump justified his decision to withdraw from the landmark nuclear deal.

China's Foreign Minister Wang Yi said Zarif's tour would improve understanding of Iran's position and help Tehran protect its legitimate interests.

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

Trump, while announcing his decision to withdraw from the nuclear deal, also ordered the re-imposition of sanctions on Iran.

It reiterated that Iran was preparing to resume "industrial-scale" uranium enrichment "without any restrictions" unless Europe provided solid guarantees that it could maintain trade ties despite renewed USA sanctions.

Bolton, asked whether the United States might impose sanctions on European companies that continue to do business with Iran, told CNN: "It's possible". "They were dishonest actors - so the deal... was made on things that were not accurate, particularly the fact that Iran's nuclear capability was far more advanced and further along than they indicated".

"I think there's a certain naivete to think, oh, the Iranians are going to be excited about a new deal when we ripped up the old one", Paul said.

As a result of the new USA sanctions, companies worldwide must stop doing business with Iran or risk US fines or other punishment. "They will never abandon the United States for us", said housewife Poormoslem at a protest rally against Trump on Friday.

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"The European countries should give us guarantees that in spite of the United States withdrawal from the JCPOA, the interests of the Iranian nation will still be protected", IRNA quoted Zarif as telling reporters upon arrival in Beijing. Trump officials also complained about clauses in the deal that would have relaxed restrictions on Iran after about a decade. We will remind, the White house released a list of demands the U.S.to Iran.

That is part of a flurry of diplomatic activity following Trump's unilateral withdrawal from what he called "a frightful, one-sided deal", a move accompanied by the threat of penalties against any foreign firms doing business in Iran.

"The holy system of the Islamic Republic will step up its missile capabilities day by day so that Israel, this occupying regime, will become sleepless and the nightmare will constantly haunt it that if it does anything foolish, we will raze Tel Aviv and Haifa to the ground", he said, according to state television.

Though Europe will do its best to keep the deal afloat and convince Iran to uphold its commitment without the United States, O'Sullivan said: "I very much doubt it will be possible to reinstate anything like that global consensus [in the JCPOA] given that it is the United States walking away from a deal that Iran agreed to". "Why shouldn't they? They got everything they wanted from the Obama administration", he said.

President Trump's withdrawal from the multi-national deal to halt Iran's nuclear weapons ambitions has drawn little reaction from the tanker market.

Many say sanctions allow the government to blame outsiders for its own bad decisions. "Optimism doesn't abound." Iran's nuclear chief Ali Akbar Salehi was quoted by Fars news agency as saying he was not optimistic on the prospects of the talks with the Europeans.

"We are waiting now for how the decision-makers in the European Union will react". Now, the outcome of the United States getting out of it is to reimpose all American sanctions as they were before the deal came into effect.

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