World powers must do more to satisfy Iran on nuclear deal

THE Iran nuclear deal looked in doubt yesterday as European powers failed to persuade Tehran that they would be able to compensate fully for economic losses caused by the US’S exit.

The signatories to the landmark accord met for the first time since Donald Trump, the US President, withdrew in May, to discuss how they could salvage the deal in the face of a reimposition of US sanctions.

The 2015 deal saw the lifting of sanctions on the Islamic Republic in return for curbs on its nuclear programme verified by the International Atomic Energy Agency (IAEA).

Washington has since told allies they must stop buying the Opec producer’s oil from Nov 4 or face financial consequences. The other signatories – Britain, France, Germany, China and Russia – have vowed to stay in the accord, but appear powerless to stop their companies pulling out of Iran.

The pillars of the European Union’s strategy are: European Investment Bank lending, a special measure to shield EU companies from US secondary sanctions, and a Commission proposal that EU governments make direct money transfers to Iran’s central bank to avoid US penalties.

But Hassan Rouhani, Iran’s president, told Emmanuel Macron, the French President, in a phone call before the summit that the package fell short of their demands.

Tehran has already warned it is ready to resume uranium enrichment to 20 per cent “within days” if the agreement falls apart.