Iran Nuclear Deal: European leaders try to salvage nuclear deal and business arrangements

World
Europe

01:57

While the US says Washington will impose the strongest sanctions possible against Iran, European countries are continuing to try to salvage the Iran nuclear deal. From Brussels, CGTN correspondent Jack Parrock reports.

Here in Brussels, European Union officials are doing everything they can to try to keep Iran in the nuclear deal despite the US exit.

But the strength of the comments by US Secretary of State Mike Pompeo will be of concern as the Europeans try to find a path to continue doing business with Iran while avoiding US secondary sanctions which will target firms that don't wind down their operations.

To that end, the European Commission has fished out an old law known as a 'blocking statute' and is updating it to essentially forbid European firms from abiding by the US sanctions.

After meetings here in Brussels last week, the Iranian Foreign Minister Mohammad Javad Zarif hosted the EU energy commissioner this weekend in Tehran -- and said that despite the promising start they'd made in Brussels, what the Europeans are offering as far as economic compensation goes, isn't enough to keep Iran in the deal.

Germany is leading the charge to try and save the deal but while politicians are trying to keep Iran on board, firms here have already announced they're going to pull out.

French oil giant Total says its winding down a multi-billion dollar project, German insurance Allianz also plans to pull out and Danish container company Maersk says it will end its operations in Iran.

While Germany, France and the UK are struggling to keep companies invested, the other signatories -- China and Russia - also say they are committed to keeping their economic activity in Iran protected.

Talks for this entire group -- now being called the 'E3 plus two' will resume in Vienna later this week. Jack Parrock, CGTN, Brussels.