Iran's Foreign Minister in China to rescue nuclear deal

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Zarif is now on a tour of the countries that are the parties to the agreement on the Joint Comprehensive Plan of Action (JCPOA) to hold consultations to salvage the deal.

Several Irish firms began trading with Iran, the Middle East's second-largest economy, in the wake of the 2015 deal to control Tehran's nuclear ambitions, which led to the lifting of long-standing worldwide sanctions and the resumption of formal trade ties with several European countries.

"We have started an intensive process (and) the economic benefits inside the JCPOA (Iran deal) should be preserved for Iran", Mohammad Javad Zarif said on arrival in Brussels ahead of a meeting with his British, French and German counterparts. "It's clear that there should also be economic incentives - that will not be easy after the US decision", Maas said. The announcement triggered U.S. plans to reimpose sanctions on the Islamic Republic within roughly three to six months.

After the President Donald Trump announced his withdrawal from the Iran deal, Prime Minister Jacinda Ardern said his decision was "disappointing".

French Finance Minister Bruno Le Maire said earlier that Europe should not accept that the the "world's economic policeman", or become the USA "vassals" that "obey decisions taken by the United States while clinging to the hem of their pants;" Rather, Le Maire asked, "or do we want to say we have our economic interests, we consider we will continue to do trade with Iran?"

The United States has threatened to impose sanctions on European companies that do business with Iran, as the remaining participants in the Iran nuclear accord stiffened their resolve to keep that agreement operational.

Sanctions on European companies that do business with Iran after the United States withdrawal from the nuclear deal are "possible", White House National Security Adviser John Bolton said on Sunday.

"The talks with the Europeans, Iran and the other signatories to the agreement are therefore also about how it can be possible to continue trade with Iran", Maas said.

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Secretary of State Mike Pompeo said the USA still wanted to work with the Europeans on a new deal.

Russian Federation and Iran also sought to strengthen their business ties long before the 2015 agreement, despite global sanctions in place.

Despite the United States exit, Britain and Iran expressed their commitment to ensuring that the accord is upheld, according to a statement released by British Prime Minister Theresa May's office.

Iran's foreign minister says talks with the EU's foreign policy chief in Brussels were "constructive".

Bolton said Europe was still digesting Trump's May 8 move. "I think that will sink in; we'll see what happens then", Bolton said.

Germany's minister for economic affairs Peter Altmaier said last week that Berlin will try to "persuade the USA government to change its behaviour".

The U.S. decision reignited the danger of economic crisis for Iran, which is now at the center of Tehran's diplomatic efforts.