EU, Iran eye 'practical solution' to save nuclear deal

Those included continuing to sell Iran's oil and gas products, maintaining effective banking transactions and protecting European investments in Iran.

Speaking after talks with Mogherini, Zarif struck an optimistic note.

Foreign ministers of Germany, France and Britain met their Iranian counterpart in Brussels on Tuesday and tasked their experts to come up with measures for a meeting of their deputies in Vienna next week. "We are on the right track. a lot will depend on what we can do in next few weeks", he said.

Britain said on Wednesday that US sanctions against Iran were having a clear impact on other countries and were making it hard for firms to assess the risks of doing business there.

Total said it might quit a multi-billion-dollar gas project if it could not secure a waiver from U.S. sanctions.

Heiko Maas, Germany's foreign minister, acknowledged that the process to resolve the issues surrounding the U.S. withdrawal would not be easy.

"We have to be realistic about the electrified rail, the live wire of American extraterritoriality and how [it] can serve as a deterrent to business", Johnson told reporters in Brussels.

Major European powers and Tehran committed Tuesday to keep working together to save the Iran nuclear deal despite U.S. President Donald Trump's determination to kill it off.

Iranian officials have threatened to resume enrichment.

He added that the remaining signatories of the Iran nuclear accords would meet next week.

We will remind, the President of the United States Donald trump officially announced the USA withdrawal from the nuclear agreement with Iran.

British Foreign Secretary Boris Johnson said before the meeting in Brussels that "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". This would damage Iran's economy and European firms would lose a huge market in the Middle East. Switching to alternative settlement currencies allows both sides to continue trading despite USA sanctions.

"The thing is that the [US] threats to impose fines and disconnect from the dollar system would have made sense for European companies involved in business with Iran... if there were no alternatives to the U.S. currency and the United States financial system", Danilov explained.

European leaders have set to work on keeping the Iran nuclear deal alive, following Donald Trump's decision to pull out of the Joint Comprehensive Plan of Action or JCPOA.

The Iranian president called on Muslim countries to condemn in unison the USA and Israel, saying "such criminal acts have made the Palestinian nation more united than ever, and bring to light the true intentions of the United States".

United Nations Secretary-General Antonio Guterres has backed the efforts to salvage the deal. Johnson said regime change in Iran was not a policy Britain should pursue.

Vanessa Coleman

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