Five countries agree to follow Iran nuclear deal

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With tensions rising over the strategic waterway, the European Union is proposing a plan for salvaging a multinational nuclear deal with Tehran after Washington withdrew, but Iranian President Hassan Rouhani told leaders in Paris and Berlin on Thursday that the package did not go far enough.

In another phone call to German Chancellor Angela Merkel, Rohani said the European economic measures are "disappointing", the Tasnim news agency reported.

During a visit to Europe this week President Hassan Rouhani warned that Iran could reduce its co-operation with the United Nations nuclear watchdog, having already threatened Trump of the "consequences" of fresh sanctions against Iranian oil sales. The proposed package "only included some general promises like previous European Union statements", Rouhani said.

Speaking after the meeting between the remaining parties to the nuclear accord, Mogherini, who chairs the talks, read a statement saying all sides would continue to look at ways to salvage the deal, despite the reimposition of USA sanctions.

"Maintaining access to these markets is a quasi life-or-death issue for the [bank]" because it has $120 billion of bonds held by investors worldwide that must be continually rolled over and refinanced, Director-General Bertrand de Mazieres said in May.

"They must stop permanently threatening to break their commitments to the nuclear deal", Le Drian told RTL radio.

After foreign ministers of Iran and the five other signatories - Britain, France, Germany, China and Russian Federation - met in Vienna on Friday to find ways to keep the deal alive, here is a look-back over developments since Trump's withdrawal.

Hasn't Iran made this threat before?




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

Washington has since told allies they must stop buying the OPEC producer's oil from November 4 or face financial consequences.

As tensions grow, the USA president is demanding that all countries end imports of Iranian oil by 4 November, as part of a series of 12 demands aimed at forcing Iran to behave "like a normal country".

It must activate a "blocking statute" - legislation banning EU companies from complying with United States sanctions on Iran - and allow the European Investment Bank (EIB) to do business in Iran, he said.

They also vowed to maintain financial channels, promote export credit cover and air, sea and overland transport links, and to work for the "the protection of companies from the extraterritorial effects of USA sanctions".

Lavrov urged new ways of trading with Iran if Washington restores sanctions against Tehran.

On Jun 30 authorities say they have foiled an alleged plot to bomb a rally by an exiled Iranian opposition group based in France also attended by leading USA figures including former NY mayor Rudy Giuliani, Trump's personal lawyer.

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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