The possible collapse of a deal which had promised to keep Iran in check comes as Israel attacked Iran's military installations in Syria.
So far, China, France, Russia, Britain, the European Union and Iran remain in the accord, which placed controls on Iran's nuclear program and led to a relaxation of US economic sanctions against Iran and companies doing business there.
President Donald Trump frustrated key European allies when he withdrew the US from the Obama-era Iran nuclear deal last week and signed an order reimposing sanctions on Iran that had been in place prior to the deal. But Bolton left open the possibility that if they do not, the United States might sanction foreign corporations that continue to do business with Iran.
The European parties to the deal as well as Russian Federation criticized the US withdrawal.
Part of the flaw with the Iran deal that President Donald Trump rejected was it enticed Europe and the US into economic relations with Iran that would work against holding the country accountable for violations of the agreement, Bolton said.
"I'm hopeful in the days and weeks ahead we can come up with a deal that really works, that really protects the world from Iranian bad behavior, not just their nuclear program, but their missiles and their malign behavior as well", he told Fox News. Le Maire said he would meet with German and British finance ministers at the end of the month to discuss these proposals.
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Although the deal's other members emphasized their commitment to remaining in the Joint Comprehensive Plan of Action (JCPOA), the USA threatened to impose sanctions on any companies enabling Iran by doing business with the country.
Trump on May 8 announced his intention to withdraw from the Iran nuclear deal, calling the multilateral pact "defective at its core" and unable to fully prevent Iran from obtaining a nuclear weapon.
"This deal is not a bilateral treaty. The inspectors say nothing", she said.
Meanwhile, Saudi Arabia has signaled it is ready... Israel's PM Benjamin Netanyahu is known to be a huge critic of Iran and supports Donald Trump in pulling out of the Iran deal.
All this leads one to believe that unless China, Russia, and European powers intervene and find a way for the economic sanctions not to be reimposed, consequently also preventing Iran from upping its nuclear ambitions, a massive threat of another Middle East war could well be on the horizon. And if that happens, it could be potentially destabilizing for the entire world.
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