Iran says Europe's offer to save nuclear deal insufficient

Iran says Europe's offer to save nuclear deal insufficient

Iran says Europe's offer to save nuclear deal insufficient

But Washington has also warned European allies that they face possible penalties if they violate US sanctions, which Washington says are aimed at reducing Iranian oil exports to "zero" - a level that would deprive Iran's economy of its principal source of revenue and economic growth.

"Participants agreed to keep progress under close review and to reconvene the joint commission, including at ministerial level, as appropriate in order to advance common efforts", Mogherini said, adding that all sides were determined to find and implement solutions.

European Union foreign policy chief Federica Mogherini reads a statement after a meeting in Vienna, Austria, on July 6, 2018.

"To save the deal, other signatories should compensate for United States sanctions", a senior Iranian official told Reuters on Friday.

Speaking on French radio ahead of arriving in the Austrian capital, France's foreign minister said world powers would struggle to put together an economic package immediately.

"They (Iran) must stop threatening to break their commitments to the nuclear deal", Jean-Yves Le Drian said. "For the start August it seems a bit short, but we are trying to do it by November", he was quoted by Reuters news agency as telling a French radio station.

Heading in to the talks, German Foreign Minister Heiko Maas conceded that the treaty nations would not be able to compensate Iran entirely for the loss of business from companies withdrawing, but said they would advise firms that want to continue investing and emphasize to Iran that leaving the deal "would have much greater disadvantages".

Despite the United States threat to penalise companies and banks that do business with Iran, the remaining signatories said they would work to promote investment and trade.

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Zarif made the remarks while addressing reporters in the Austrian capital Vienna on Friday following a meeting with his counterparts from Britain, France, Germany, China and Russian Federation for the first time since US President Donald Trump pulled Washington out from the nuclear accord, officially known as the Joint Comprehensive Plan of Action, in May.

If Iran can not sell its oil due to USA pressure, then no other regional country will be allowed to do so either, Jafari was quoted as saying by Tasnim news agency.

Iran, which strongly denies ever seeking to build a nuclear bomb, has warned it could resume uranium enrichment for civilian purposes if the deal collapses.

Iranians have complained that the hoped-for rise in foreign investment and trade after the deal has not materialised.

The Iranian president described as disappointing the bloc's package of economic measures.

On Wednesday, a Revolutionary Guards commander said Iran would block oil shipments through the Strait of Hormuz was U.S. President Donald Trump to stop Iranian oil sales.

The model set as revolutionary thinking with reliance on people, was in fact the foundation of pillars of sacred defense of the Iranian people in the geography of Islamic resistance, bringing historical triumphs against the Takfiri terrorists and proxy wars, he said.

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