US Navy: Will Protect Commerce in Face of Iran Oil Threat

Getty Images

Getty Images

Speaking also on July 6, German Foreign Minister Heiko Maas said world powers would not be able to fully compensate for companies leaving Iran due to new USA sanctions.

Top diplomats from Iran and five world powers sat down in Vienna on Friday to hash out what steps are needed to preserve the nuclear deal with Tehran following the withdrawal of the United States.

Trump said he was unilaterally pulling out of the deal negotiated by his predecessor because he felt it wasn't strong enough and didn't cover other issues of concern to the US and its allies, such as Iran's military influence in the Middle East and a ballistic missile program.

Ministers from Britain, China, France, Germany and Russian Federation met their Iranian counterpart in Vienna for the first time since U.S. President Donald Trump left a nuclear accord in May, but diplomats had seen limited scope for salvaging it.

During the meeting, the Iranian leader told his French counterpart that "Europe's package of economic measures to offset the USA pullout from the nuclear deal does not go far enough", the agency reported.

The meeting meeting lasted for two hours until around 12:00 GMT on Friday at the same hotel, where the deal was negotiated and signed in July 2015. But Maas said they would advise firms that want to continue investing and emphasize to Iran that leaving the deal "would have much greater disadvantages".

Also on Thursday, Chinese Foreign Minister Wang Yi urged all the remaining parties to stick to their obligations under the nuclear accord.

Zarif posted a statement on social media saying that his mandate at the meeting is to "forge practical solutions".

Court to issue verdict in Avenfield case on July 6
Sharif's daughter Maryam was sentenced to seven years and fined £2 million in the case. The court asked all accused to be present in the court for the hearing on Friday.

He said the package lacks workable solution and is a set of general commitments like the previous European Union statements.

On Wednesday, a Revolutionary Guards commander said Iran would block oil shipments through the Strait of Hormuz was U.S. President Donald Trump to stop Iranian oil sales.

"Maintaining access to these markets is a quasi life-or-death issue for the [bank]" because it has $120 billion of bonds held by investors worldwide that must be continually rolled over and refinanced, Director-General Bertrand de Mazieres said in May.

Iran has warned it is ready to resume uranium enrichment to 20 percent - above the level permitted in the deal - "within days" if the agreement falls apart.

Will the world's oil supply continue to flow out of the Gulf? A total of $100bn in frozen Iranian assets was also released.

The Iranian president has stressed the importance of fulfilling Tehran's demands for the continuation of the Islamic Republic's cooperation with the remaining signatories to the 2015 nuclear agreement.

But Trump, a long-time critic of the deal who succeeded Obama past year, went ahead and pulled out of the pact despite repeated assurances by United Nations inspectors that Iran is in compliance with its obligations.

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