By Middle East Affairs
European efforts not enough to save deal after U.S.’s departure says Iranian Foreign Minister Javad Zarif, who spent two days in meetings with visiting EU Energy Commissioner Miguel Arias Canete in Tehran.
“The cascade of decisions by EU companies to end their activities in Iran makes things much more complicated,” Zarif said to reporters.
Canete was the first Western dignitary to visit Iran after the original deal fell apart in early May.
“With the exit of the United States from the nuclear deal, the expectations of the Iranian public toward the European Union have increased… and the EU’s political support for the nuclear agreement is not sufficient,” Zarif said.
Foreign companies have already begun pausing business with Iran as the E.U. struggles to come up with a promising offer for Iran.
Total, a French oil major will walk away from its $4.8 billion investment project in Iran unless the U.S grants it permission to continue business.
It’s not the only company to seize business with Iran, Engie, a major French oil company said that it will be terminating its engineer work before U.S sanctions are to be reimposed in November.
Zarif said, “The European Union must take concrete supplementary steps to increase its investments in Iran. The commitments of the EU to apply the nuclear deal are not compatible with the announcement of probable withdrawal by major European companies.”
If Iran’s interests are not met, Tehran has threatened that it will resume its industrial uranium enrichment without any foreign limitations.
Europe is in a crunch of time to restore investments and oil purchases in Iran admitted Canete.