Mogherini: Iran nuclear deal will hold

13 May, 2018, 00:58 | Author: Sheila Harris
  • Iran deal Trump

It's not often that an OPEC producer accuses the US of driving up oil prices. Many major European airlines have resumed services to Iran.

Mogherini's remarks on Friday echoed her comments that directly followed Trump's withdrawal from the Iran deal-officially called the Joint Comprehensive Plan of Action (JCPOA)-earlier this week.

Russia, China and Turkey see U.S. withdrawal from the Iran nuclear deal an opportunity, while the Europeans are scrambling to protect their businesses from new American sanctions.

Protesters congregated around the University of Tehran on Friday to denounce President Donald Trump and his policies, trampling and burning U.S. flags. That will affect billions of dollars in existing contracts between private corporations and Iran, and untold future investments in a country whose currency is already spiraling out of control.

But it is hard to square Trump's professed quest for a "new and lasting deal" with his scornful dismissal of the "decaying and rotten" original agreement. He has no intention of invading Iran, but is setting the stage for regime change from within.

America's European allies were dismayed by the decision, which fell even as London, Paris, and Berlin were trying to negotiate a tougher accord to placate Trump. The old world order is breaking down and the new one will take time to emerge from the current chaos.

There are signs, however, that other members of the Organization of the Petroleum Exporting Countries (OPEC) will raise output to counter the Iran disruption. Firms would not be allowed to strike new deals with Iran. More significantly, the deal failed to prevent Iran from developing ballistic missiles.

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Companies and countries with commercial deals with Iran would have either 90 or 180 days to wind down those activities, depending on the sector and type of products sanctioned.

Israeli airstrikes struck Iranian military installations inside Syria on Thursday - its biggest coordinated assault on Syria since the 1973 Mideast war - in retaliation for an Iranian rocket barrage on Israeli positions in the occupied Golan Heights. And Israel defended itself decisively.

Europe's main capitals of London, Berlin and Paris are urging Iran to "show restraint" in its reaction to the U.S. decision as tensions ratchet up between Tehran and Jerusalem, while also insisting the deal "made the world a safer place". The permanence of Jerusalem carries with it a sense of completion, as if the wandering Jewish spirit can finally rest, securely, in its home.

The first wave of these sanctions, which will hit 90 days from Tuesday, will target Iran's automotive sector, its trade in precious metals, aluminum, steel, coal and carpets, its sale of Iranian rial currency and its maintenance of offshore accounts, its access to the USA dollar and those seeking to purchase Iranian sovereign debt.

In both the Iran deal and Jerusalem, the USA and Israel stand together, unapologetically, against the fearful tide of world opinion. The result was the opposite.

Let both nations rejoice, Washington with Jerusalem.

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