Ayatollah Khamenei: Iran ready to abandon nuclear deal

Crude Oil

Crude Oil

"Naturally, if we reach the conclusion that (the nuclear deal) is no longer maintaining our national interests, we will put it aside", Ayatollah Ali Khamenei said in a meeting with the cabinet, according to his website.

Iran's supreme leader warned the country might abandon its nuclear deal with world powers, casting doubt on the ability of European states to save the accord following the USA withdrawal.

Following US President Donald Trump's exit from the historic worldwide accord to curb Iran's nuclear ambitions, European powers have scrambled to ensure Tehran continues to receive economic benefits needed to keep it in compliance.

His political enemies are circling, with parliament announcing that two more of his ministers could be impeached in the coming days. Khamenei reiterated that Iran would not engage in any negotiations with the administration of US President Donald Trump, despite his offer of unconditional talks.

Rouhani has been greatly weakened by the Washington's reimposition of sanctions following its withdrawal from a 2015 nuclear deal between Iran and major powers, which has undone his plans to attract much-needed foreign investment.

Officials should unite against American pressure, he said, since publicising differences would only make the nation more unhappy.

Conservative opponents of Rouhani, who have long opposed his outreach to the West, are smelling blood.

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The labour and economy ministers have already been sacked by parliament this month and motions have been accepted to vote on impeaching his industries and education ministers in the coming days.

After being summoned by the Parliament, Iranian President Hassan Rouhani appeared before parliament on Tuesday, marking the first time he has been summoned by lawmakers since he assumed office in 2013.

Iran's official unemployment rate is 12 percent, with youth unemployment as high as 25 percent in a country where 60 percent of the 80 million population is under 30.

Oil prices slipped on Wednesday, pulled down by a rise in United States inventories and hopes that new investment could halt a plunge in Venezuela's output.

A motion was also filed on Wednesday to vote on the impeachment of Education Minister Mohammad Bathaei, over a series of issues linked to school budgets, the curriculum and alleged mismanagement.

Rouhani and other officials in his government have pinned it on mismanagement by bureaucrats, and pushed for more reforms, saying that Iran can definitely weather the USA sanctions.

Iran has said if it can not sell its oil due to U.S. pressure, then no other regional country will be allowed to do so either, threatening to block the Strait of Hormuz, a strategic artery linking the Gulf crude producers to the world.

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