China, Germany defend business with Iran in face of US threats

Minnie Murray
August 9, 2018

He described the US withdrawal from the 2015 nuclear deal and re-imposition of sanctions against Iran as a wrong action which runs contrary to worldwide regulations.

"With regard to our situation do not be anxious at all".

Iran's currency has been in steady decline since the start of the year as the country anxiously awaits the re-imposition of full United States sanctions, trading at record lows and losing almost two-thirds of its value against the dollar.

Just one day after the United States issued their first set of sanctions were issued, Ms Mogherini said: "We are doing our best to keep Iran in the deal, to keep Iran benefiting from the economic benefits that the agreement brings to the people of Iran, because we believe this is in the security interests of not only our region but also of the world".

Ri was present alongside a high-level Iranian delegation at a meeting of the Non-Aligned Movement in Baku, Azerbaijan in April, according to Pyongyang's official KCNA news agency.

The next round of punitive measures will come into effect in November and will target Iran's oil industry.

In November, a second batch of potentially more damaging sanctions will be reinstated on Iran's port operators, and the energy, shipping, and shipbuilding sectors.

"NEVER, EVER THREATEN THE UNITED STATES AGAIN OR YOU WILL SUFFER CONSEQUENCES THE LIKES OF WHICH FEW THROUGHOUT HISTORY HAVE EVER SUFFERED BEFORE", Trump wrote.


European countries, hoping to persuade Tehran to continue to respect the deal, have promised to try to lessen the blow of sanctions and to urge their firms not to pull out.

Danish engineering company Haldor Topsoe, one of the world's leading industrial catalyst producers, said on Wednesday it would cut around 200 jobs from its workforce of 2,700 due to the new U.S sanctions on Iran, which made it very hard for its customers there to finance new projects.

Among those that have suspended plans to invest in Iran are France's oil major Total, its big carmakers PSA and Renault, and their German rival Daimler.

Turkey, however, said it would continue to buy natural gas from Iran.

'We still think that it is a mistake to give up on the nuclear accord with Iran, ' Maas said in an interview with the daily Passauer Neue Presse.

Last month, Trump offered to meet Iran's leaders. "We can't get drawn into a confrontation with America by falling into this war room trap and playing on a battlefield".

The first wave of U.S. sanctions took effect on Tuesday.

Signed in 2015, the landmark deal was meant to lift sanctions against Iran in return for curbs in its nuclear programme.

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