World powers try keep Iran nuclear deal alive

President Donald J. Trump signs a National Security Presidential Memorandum as he announces the withdrawal of the United States from the Iran nuclear deal

Oil wars: Iran says 'ready' to block of Hormuz Strait in retaliation to U.S.

Back on May 8, US President Donald Trump announced Washington's decision to withdraw from the Iran nuclear deal (an agreement made in 2015 between Iran, the UK, Germany, China, Russia, the US and France) as, in his words, the agreement left Iran a possibility to create a nuclear bomb bypassing all the restrictions.

Washington has since told allies they must stop buying the OPEC producer's oil from November 4 or face financial consequences.

The other partners so far appear powerless to stop their countries' companies pulling out of Iran for fear of USA penalties.

Under the JCPOA, Iran undertook to put limits on its nuclear program in exchange for the removal of nuclear-related sanctions imposed against Tehran.

Iranian President Hassan Rouhani and Foreign Minister Mohammad Javad Zarif have embarked on a European tour to save the nuclear deal and to safeguard trade with Tehran and guarantees for Iranian oil sales.

The diplomats said they remained committed to the 2015 accord and to building up economic relations with Iran, including "the continuation of Iran's export of oil and gas" and other energy products.

She added that the participants will work on the issues such as "the encouragement of further investments in Iran, the protection of economic operators for their investments and other commercial and financial activities in or in relation to Iran, the bringing together of private and public sector experts, the practical support for trade with and investment in Iran, the protection of companies from the extraterritorial effects of U.S. sanctions".

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The bellicose interpretation was virtually universal among USA officials and media outlets, and echoed on Thursday when the Iranian Revolutionary Guards praised Rouhani's statement, and said shipping of oil through the Strait was for "all or none".

Rohani told French President Emmanuel Macron in a phone call that the package "does not meet all our demands", the IRNA state news agency reported late on July 5.

However, he warned that if the European sides fail to properly fulfill their commitments, Iran would take its own measures to counter the United States withdrawal from the JCPOA.

The Iranian president said there was no action plan or "a clear method in the proposed package for the continuation of cooperation and, similar to the previous European Union statements, it only contained general commitments".

As The Guardian notes, the threats "will bring back memories of the latter years of the 1980s Iran-Iraq War, when U.S. forces attacked Iranian territorial waters after a USA ship struck an Iranian mine".

"After the withdrawal of the United States, which we can't understand, we face a hard situation", he added, but he stressed that "we want to make clear to Iran that it will still gain economic benefits through this agreement". It is unsurprising that the United States is using this as an excuse to issue a bunch of new statements about their military commitment, and is liable to be an excuse for more United States naval operations along the Iranian coast.

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