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Iran Wants More in EU Guarantees before Signing New Post-US-Withdrawal Nuclear Pact
President of Iran, Hassan Rouhani delivers a speech at the Iranian parliament in Tehran, Iran on August 15, 2017. (Photo by Fatemeh Bahrami/Anadolu Agency/Getty Images)

Iran Wants More in EU Guarantees before Signing New Post-US-Withdrawal Nuclear Pact

Leaders in Tehran are apparently taking advantage of the European Union’s anxiousness to extend the nuclear development deal after the U.S. departure by making demands for guarantees that are difficult at best for the Europeans to ensure. The process is at a standstill at the moment while the Iranians await EU guarantees concerning the sale of Iranian oil and assurances of international banking transactions that will be near impossible to deliver as long as the American sanctions remain in effect. President Trump has promised action against any nation buying Iranian petroleum from November on, and experts say maneuvering the world of international banking is virtually impossible without accessing American banking institutions. On Thursday, the EU pledged $21 million to help offset the loss of money previously promised by the United States, a payment that observers see as an outright incentive to prevent the Iranians from walking. But it’s clearly not enough. The full amount promised to Iran by the EU is more than $58 million, money Foreign Minister Zarif was reported by the ISNA news agency as saying is “a package that will help both sides have communication with each other and it doesn’t have anything to do with the nuclear agreement and other hype.”

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