President TrumpDonald John TrumpOregon governor to face state rep in November Ashford, Eastman neck and neck in Nebraska Dem primary Progressive pick Wild wins Dem primary for Pa. House seat MORE's decision to pull out of the Iran nuclear deal could create a financial quagmire for USA allies who are suddenly at risk of being caught in economic sanctions.
In one of a series of meetings, foreign ministers from Britain, France and Germany signatories of the 2015 deal to stop Iran developing nuclear weapons were to hold talks with Iranian Foreign Minister Mohammad Javad Zarif, amid concerns that the sanctions will also damage European business interests. "We will look at potential options for supporting continued sanctions relief for Iran to ensure we meet our commitments under the deal".
Deal opponents add JCPOA placed no stipulation on how Iran can spend any post-sanctions revenues it generates, including on missile programme development and proxy wars.
France, Germany and Italy were the most active European Union countries in Iran, and investment from big companies, especially in the oil sector is increasing.
All sides expressed a desire and good will to save the Iran nuclear deal, yet the Europeans still did not give Iran any guarantees.
Measures could include retaliatory sanctions, allowing the European Investment Bank to invest in Iran and coordinating euro-denominated credit lines from European governments.
Trump's decision to reimpose Iran-related sanctions would act as an "electrified rail" to those wanting to do business with the country, his British counterpart Boris Johnson added.
Bolton in the past has suggested the USA government should push for a change in government in Iran. "We are ready to do so if needed", Bloomberg cited Avramopoulos as saying.
"We simply committed to fully comply with all the commitments taken there, which means for the Iranian side the nuclear-related commitments, and from our side and from the side of the rest of the global community, in particular the commitments related to the economic benefits the Iranian people need to see as an outcome of their own implementation of the Iran deal".
Annulment of the accord could tip the balance of power in favour of hardliners looking to constrain pragmatist President Hassan Rouhani's ability to open up to the West. Europeans are the allies of the United States. Supreme Leader Ayatollah Ali Khamenei, not Rouhani, has the last say on all state matters.
The EU's energy commissioner is also traveling this week to Iran to discuss strengthening European energy support to Iran.
"We do have the means and resources, we will use them, let's not kid ourselves they are only limited resources, but we will make full use of all the means that are available to us", said Juncker.