Trump can't admit that he is wrong about Iran deal

Chip Somodevilla via Getty Images

Iran says it will stay in the agreement as long as the European signatories to JCPOA give solid guarantees that Iran's interests would continue to be met in the face of U.S. sanctions.

But while he talked up the prospect of renewed coordination with America's allies, another top aide reminded Europe its companies could face sanctions if they continue to do business with the Middle Eastern power. Elsewhere, Japan and South Korea - currently importers of Iranian crude oil - have to side with the USA now that President Trump is close to finalising a deal with North Korea and its nuclear weapons programme.

He also said that the US decision on Iran was "rash" amid nuclear talks regarding the Korean peninsula.

Danish oil product tanker operator Torm on Tuesday said it has stopped taking new orders in Iran as a outcome of USA plans to reimpose sanctions on Tehran.

The Europeans are discussing setting up a bank to do trade and investment financing for Iran in euros rather than USA dollars in order to thwart American attempts to control who trades with Iran by imposing restrictions on US dollar lending.

The U.S. decision violates UN Resolution 2231 (2015) approved by the Security Council which embodied the 2015 agreement in global law. While this may overstate the case in an attempt to understate the efficacy of American sanctions-particularly as European imports from Iran have risen in the last two years-it is worth considering. Under the accord, Iran agreed to limit its sensitive nuclear activities and allow global inspectors to monitor the country's two nuclear production sites. It would not stop Iran from getting nuclear weapons.

In fact, a more nuanced position is essentially the one President Ronald Reagan adopted during the Cold War: Of course our long-term interest is in seeing oppressive, aggressive regimes join the "ash heap of history", but in the short run we need to devise policies to contain them, side with oppressed people and bolster our allies who are literally on the front lines. Neither President Obama, or interestingly enough, President Trump, took that chance.

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Currently, the U.S.is threatening to undo North Atlantic Treaty Organisation, the World Trade Organization and NAFTA, in a crude attempt to force partner states to do USA bidding.

Zarif discussed with Mogherini how Britain, France and Germany - who intend to remain in the deal - are going to ensure that the core tenets of the agreement remain in place, despite Trump's withdrawal.

Entering into good faith bargaining with the world superpower is a proven bad risk.

On Sunday, US Secretary of State Mike Pompeo said Washington still wants to work with Europe to counter Iran's "malign behaviour" and was working hard to thrash out a more wide-ranging deal with its European partners.

Not only did it bring the USA and Iran a bit closer but also brought new equations for Iran and the USA allies in the Middle East, such as Saudi Arabia and Israel. In addition, which leader hinted he might attack the U.S.?

Duncan Cameron is president emeritus of rabble.ca and writes a weekly column on politics and current affairs.

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