Iran Giving Diplomacy Second Chance: FM Zarif

Crude oil surged 7% so far in 2018 and hit a three-year high of $64.81 a barrel on Monday reflecting confidence that an epic supply glut may finally be over because of production cuts by OPEC and Russia

Crude oil surged 7% so far in 2018 and hit a three-year high of $64.81 a barrel on Monday reflecting confidence that an epic supply glut may finally be over because of production cuts by OPEC and Russia

Nothing could better illustrate the unsafe incoherence of President Donald Trump's foreign policy than his announcement Tuesday that he is withdrawing from the Iran nuclear deal and reimposing "powerful" sanctions on Tehran.

The Rouhani's administration's hopes of keeping the nuclear deal alive now rest exclusively with Europe, which has large investments in Iran subject to US sanctions that will likely be imposed by the US Treasury once the "wind-down" period ends.

President Donald Trump repeated a misleading claim about Iran's military budget Saturday, saying it had increased by more than 40 percent since the negotiation of the Iran nuclear deal.

The Iranian government is scrambling to stem the losses from Trump's decision to pull the US out of its 2015 nuclear agreement with Iran and reinstate tough sanctions.

Iran has said it is preparing to resume "industrial-scale" uranium enrichment "without any restrictions" unless Europe can provide solid guarantees that it can maintain trade ties despite renewed United States sanctions.

Iran's foreign minister said on a visit to Moscow on Monday he was seeking "assurances" from the backers of the country's nuclear deal after the U.S. pulled out.

The U.S. administration is giving affected companies either 90 days or 180 days to wind down their interactions with Tehran before sanctions kick in again. The EU3 gamble to appease Trump by offering to pile new sanctions on Iran on issues unrelated to the JCPOA (ballistic missiles, regional policies) failed miserably when Trump announced his "hard exit" from the JCPOA on May 8. "We need to unite to dismember the arm of the evil that is spreading itself in every place", Netanyahu said, adding that Israeli "policy is clear. Now, that will not happen!"

A number of top Iranian officials and politicians have threatened in the past week to restart the country's nuclear program following Trump's decision to leave the deal. "Iran's Islamic Revolutionary Guard Corps bears full responsibility for the consequences of its reckless actions, and we call on the IRGC and its militant proxies, including Hezbollah, to take no further provocative steps".

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Zarif tweeted, "Good and substantive meetings with counterparts in Beijing and Moscow; heading to meet with EU High Representative and E3 foreign ministers in Brussels". Let me explain what the Iran nuclear agreement is.

To recap, oil prices rose by 3 percent after Donald Trump announced that he will pull the United States out of the nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA).

Zarif also published a government statement on his Twitter page, slamming Trump's "extremist administration" for abandoning "an accord recognized as a victory of diplomacy by the worldwide community". Their goal in 2015 was to recover some of the cash USA officials had been holding for years, since the revolutionary Islamic regime took power.

Mr Trump's move to ditch the nuclear deal has infuriated Washington's allies in Europe as well as China and Russian Federation.

"We hope recent events will lead us not to trust in the West and even Europeans", he said Sunday, according to the conservative-linked Fars news agency.

They expect West Texas Intermediate, the most commonly cited United States contract, to trade $6 below the price of Brent in 2019.

His remarks drew chants of "Death to America!" from those gathered for Friday prayers in Tehran.

Mr Le Maire said he was seeking concrete exemptions for French companies already present in Iran, including Renault, Total, Sanofi, Danone and Peugeot. "Our goal should be regime change in Iran", he told Fox at a time when he was with the American Enterprise Institute think tank.

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