Iran FM in Moscow as Russian Federation moves to save nuclear deal

Crude oil surged 7% so far in 2018 and hit a three-year high of $64.81 a barrel on Monday reflecting confidence that an epic supply glut may finally be over because of production cuts by OPEC and Russia

Taken together, all these factors create doubts as to whether the European Union decisions on Iran policy post-US withdrawal from the JCPOA will match Iranian expectations.

"We hope that with this visit to China and other countries we will be able to construct a clear future design for the comprehensive agreement", Mohammad Javad Zarif told reporters after talks in Beijing with his Chinese counterpart Wang Yi.

The European Union's foreign affairs chief says Israeli Prime Minister Benjamin Netanyahu's latest allegations that Tehran once pursued nuclear weapons do not appear to show Iran is now violating the 2015 worldwide nuclear agreement. In July, Bolton told the Iranian fringe dissident group Mujahedeen Khalq that "the declared policy of the United States should be the overthrow of the mullahs' regime in Tehran". "Third, higher oil prices will encourage more non-OPEC production, especially from the U.S. where shale producers tend to be very responsive to prices", Capital Economics said. Although the government's spokesperson threatened to take the USA to the World Trade Organization (WTO) over the secondary sanctions, President Emmanuel Macron, apparently unfazed by the cold shower he received in Washington, contributed more confusion by repeating his half-baked ideas about a "new, more extended deal" with Iran, covering missiles and Iran's "problematic role in the region".

The other countries involved in the deal remain in the accord despite Trump's decision. Not only is it one of the US companies making parts for Airbus, but it has also received big parts orders for oil and gas facilities in Iran.

Last week, a senior Israeli intelligence official was in Ottawa to garner support for his government's opposition to the Iran agreement. "And if it continued, it would have given Iran extraordinary economic benefits without any guarantees of Iranian performance".

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"The repeated attacks by the Zionist regime on Syrian territory were carried out under pretexts that were invented", he added.

"I am hopeful in the days and weeks ahead that we can come up with a deal that really works, that really protects the world from Iranian bad behavior", he said.

The nuclear deal provided Iran with relief from sanctions in return for curbs on its nuclear program.

White House National Security Adviser John Bolton said it is possible the USA will impose sanctions on European companies that do business with Iran.

He emphasized on CNN that his job now was to advise Trump and that the president would make the policy decisions.

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Zarif later said he was seeking "solutions in order for other countries, in particular, those remaining in the agreement, to have relations with Iran without hindrance", in comments reported by the Iranian ISNA news agency.

"The Europeans have repeated on several occasions that they will not be able to resist U.S. sanctions".

"Normally in this scenario", he said, "the United States would be the leading voice counseling restraint, but that's no longer the case".

So far, France, Germany and the United Kingdom have all said they want to stay in the Iran deal. If that happens, South Korea will suffer from a sharp decline in its exports to Iran, which amounted to four-billion U.S. dollars previous year. According to the law, foreign economic institutions conducting transactions with the central bank in Iran are prohibited from doing business with US -based financial institutions.

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