Europe vows to keep Iran deal alive but offers no guarantees

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Europe

01:59

European powers vowed to keep the 2015 nuclear deal alive without the United States by trying to keep Iran’s oil and investment flowing, but admitted they would struggle to provide the guarantees Tehran seeks.

British, French and German foreign ministers, along with the EU’s top diplomat, discussed the next steps with their Iranian counterpart, a week after US President Donald Trump abandoned the pact he branded “the worst deal ever” and reimposed US sanctions on Iran.

The flags of (from left to right) the European Union, Iran, France, Germany and Great Britain are pictured before political conversation on May 15, 2018 in Brussels, Belgium. /VCG Photo

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To this end, the EU will launch intensive discussion at all levels with Iran in the next few weeks, EU foreign policy chief Federica Mogherini said at a press conference following a 90-minute meeting with foreign ministers of Britain, Germany, France and Iran.

"We reaffirm our resolve to continue to implement the nuclear deal in all its parts, in good faith, and in a constructive atmosphere," said Mogherini.

"We are determined to ensure that Iran Deal stays in place. We know it's a difficult task but we are determined to do that," Mogherini noted, adding "we started to work to put in place measures that help ensure that this happens."

She said all sides had agreed to find practical solutions over the coming weeks. Those included continuing to sell Iran’s oil and gas products, maintaining effective banking transactions and protecting European investments in Iran.

“I cannot talk about legal or economic guarantees but I can talk about serious, determined, immediate work from the European side,” Mogherini said.

European Union's High Representative for Foreign Affairs and Security Policy Federica Mogherini answers journalists' questions before a ministerial meeting of EU/E3 and EU/E3 with Iran at the EU headquarters in Brussels, May 15, 2018. /VCG Photo

When leaving the meeting, Iranian Foreign Minister Mohammad Javad Zarif echoed Mogherini, saying, "it's the start of the process, a lot depends on what we do in the next few weeks. I believe it's a good start."

"We need to receive those guarantees, and we will see how best we will move over," Zarif told reporters.

Zarif is in Brussels on the final leg of a whirlwind diplomatic tour to save the 2015 nuclear deal after the recent US withdrawal from the pact.

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Iranian Foreign Minister Mohammad Javad Zarif addresses journalists as he leaves after a ministerial meeting of EU/E3 and Iran at the European headquarters in Brussels, May 15, 2018. /VCG Photo

Highlighting just how difficult it will be, the US Treasury announced on Tuesday more sanctions, including on Iran’s central bank governor, just minutes before the Brussels meeting was due to begin.

Zarif said the latest US decision was “illegal.”

Much to Europe's displeasure, foreign companies doing business with Iran are also at the crosshairs of the US sanctions.

In response to the looming US sanctions, British Foreign Secretary Boris Johnson told reporters upon his arrival at the meeting: "that doesn't mean there aren't some things we can do."

Britain's Foreign Secretary Boris Johnson and Iran's Foreign Minister Mohammad Javad Zarif take part in a meeting in Brussels, Belgium, May 15, 2018. /VCG Photo

"We will be looking at all the ways that we can come up with to protect the legitimate UK and European business who may want to trade with Iran, who do want to trade, and in indeed who have great plans to do that," he said.

The Europeans and Iranians have now tasked experts to come up with measures quickly and will meet again in Vienna next week at a deputy foreign minister level.

Measures could include retaliatory sanctions, allowing the European Investment Bank to invest in Iran and coordinating euro-denominated credit lines from European governments.

But the reach of the US financial system, the dominance of the dollar and the presence of European companies’ operations in the United States all weaken any potential EU measures.

German Foreign Minister Heiko Maas is pictured before political conversation on May 15, 2018 in Brussels, Belgium. /VCG Photo

European commissioners will discuss sanctions-blocking measures on Wednesday, opening the way for European leaders to discuss the issue at a summit in Sofia later that day.

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Source(s): Reuters ,Xinhua News Agency