Britain Firmly Committed to Ensuring Iran Nuclear Deal

The writer a graduate of Brown and Cambridge universities is managing director at a fund management company based in Singapore

The writer a graduate of Brown and Cambridge universities is managing director at a fund management company based in Singapore

The United States plans to reintroduce sanctions against Iran, which pumps about 4 percent of the world's oil, after abandoning a deal reached in late 2015 that limited Tehran's nuclear ambitions in exchange for the removal of USA and European sanctions.

Zarif is heading a high-ranking political-economic delegation during his visit to China.

Trump announced a USA withdrawal from the 2015 nuclear deal on Tuesday and said he was preparing new sanctions against Iran.

American President Donald Trump triggered worldwide condemnations late on Tuesday, when he announced Washington was walking away from the Iran nuclear deal, which is officially known as the Joint Comprehensive Plan of Action (JCPOA).

PARIS - France's finance minister says European countries should push back harder against the Trump administration over the Iran nuclear deal and not act as "vassals" to the U.S.

European allies France, the United Kingdom and Germany meanwhile have agreed that pursuing the current nuclear deal with Iran is the best way to stop it developing nuclear weapons.

She said she had been encouraged by Iranian President Hassan Rouhani's commitment to abide by the deal if the other signatories did so.

Simultaneously, the country would make preparations to restart its programme of nuclear enrichment, he added, as per CNN.

America's allies in Europe have expressed dismay at the JCPOA move.

The U.S. leader accused Iran of creating "bedlam and death" in the region.

The exit drew swift criticism from the deal's other signatories, including US allies in Europe who'd tried for weeks to convince Trump to remain on board and said they plan to keep their commitment to the deal. We must take this very seriously throughout future negotiations with this regime.

Despite the USA exit, Britain and Iran expressed their commitment on Sunday to ensuring that the accord is upheld, according to a statement released by British Prime Minister Theresa May's office.

In light of President Trump overturning the Iran deal, it's not clear how much confidence North Korean dictator Kim Jong-un will have in U.S. assurances when he holds his summit with Mr Trump on denuclearisation of the Korean Peninsula in the coming weeks.

Zanganeh said foreign investment was needed to develop Iran's its oil industry, but that it could survive even if foreigners made a decision to stay away for fear of USA penalties.

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