European Union launches nine-point economic plan to rescue Iran nuclear deal

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European top diplomats on Tuesday agreed to follow through the landmark Iran nuclear deal despite U.S. President Donald Trump's decision to withdraw last week, EU foreign policy chief Federica Mogherini told reporters on Tuesday.

"The ultimate objective of all these negotiations is to obtain assurances that the interests of the Iranian people, which are guaranteed by the Joint Comprehensive Plan of Action, will be protected", Zarif said.

German Foreign Minister Heiko Maas acknowledged, however, that protecting European companies from potential U.S. penalties could be hard.

Germany has acknowledged it could be hard to protect companies doing business with Iran as the USA tightens the screws.

"We don't have a lot of time" and must see whether the political will of the Europeans can translate to a significant action or not, Zarif said.

BORIS Johnson final night time insisted the Iran nuclear deal nonetheless "has worth" as he held disaster talks with European Union counterparts and Iran in a bid to reserve it.

The U.S. should impose economic sanctions against this state sponsor of terrorism until its government shows clear and irrefutable signs of moving away from funding terrorist organizations, militarily backing the U.S.'s enemies and propping up dictators who commit genocide against their own people.

The future of the nuclear deal will be addressed by all 28 European Union leaders at a summit in the Bulgarian capital Sofia on Wednesday, as well as by the bloc's foreign ministers at their next meeting.

Mr. Lavrov, for his part, said Russian Federation and Europe had a duty to "jointly defend their legal interests" in terms of the deal.

Mr Johnson held talks with French foreign minister Jean-Yves le Drian in London on Monday and said Britain stands shoulder to shoulder with Paris on the need to preserve the JCPOA, which removed sanctions on Iran in return for Tehran giving up its military nuclear programme. In retaliation, Iran would mobilize allies such as Iraq, Lebanon and Syria, leading to a full-fledged war in Europe's neighborhood, which would put the continent also at risk. The NTI also notes global intelligence agencies have "long suspected Iran of using its civilian nuclear program as a cover for clandestine weapons development".

Before the meeting, Boris Johnson, the UK's foreign secretary, said: "the United Kingdom and our European partners continue to view the nuclear deal as vital for our shared security, and remain fully committed to upholding it".

Another possibility is that Trump does manage to destabilize Iran's regime.

New Zealand exported $120 million of goods to Iran previous year, with dairy products making up three-quarters of that. Apart from this, energy prices would rise, trafficking would increase and terrorist activities would flourish. The EU represented over 16 percent of Iran's trade, with petroleum products representing some 88 percent percent of Iran imports to the EU.

China is the world's biggest importer of crude oil and also the biggest buyer of Iranian oil, with the recent boost in Shanghai futures partially attributed to the sanctions decision.

Q: What benefits has Iran received from the JCPOA?

He noted that on the other hand, the Europeans have three "important economic aspects" that draw them closer to Iran, namely, the oil and gas sector, machine building and the sale of airliners.

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