Iran urges EU members to resuscitate dying deal

French oil group Total abandons contract

Iran said on Monday that Europe should accelerate its efforts to salvage a 2015 nuclear deal between Tehran and major powers that US President Donald Trump abandoned in May, as French oil group Total formally pulled out of a major gas project.

Efforts by the remaining signatories – EU members Britain, France and Germany plus China and Russia – to avoid its collapse are struggling as Washington has said any firms dealing with Tehran will be barred from doing business in the United States.

“Europeans and other signatories of the deal have been trying to save the deal... but the process has been slow. It should be accelerated,” Foreign Ministry spokesperson Bahram Qasemi said.

“Iran relies mainly on its own capabilities to overcome America’s new sanctions,” he told a news conference broadcast on state TV.

European states have been scrambling to ensure Iran gets enough economic benefits to persuade it to stay in the deal, which Trump said was “deeply flawed.”

Washington imposed new sanctions on Iran in August, targeting its trade in gold and other precious metals, purchases of US dollars and its car industry.

The European powers, China and Russia say they will do more to encourage their businesses to remain engaged with Iran. But the threat of US sanctions has prompted companies to pull out of Iran.

Oil Minister Bijan Namdar Zanganeh said France’s Total has formally left a contract to develop Iran’s South Pars Gas project. “The process to replace [Total] with another company is underway,” he was quoted as saying by state TV.

Carmakers PSA, Renault and Daimler are also among those to suspend or drop plans to invest in Iran along with Deutsche Bahn and Deutsche Telekom.

Working to maintain financial channels with Tehran and facilitate Iran’s oil exports, the European Union has taken steps to counter the renewed US sanctions, including forbidding EU citizens from complying with them or related court rulings.

Washington has said Iran’s only chance of avoiding the sanctions would be to accept Trump’s offer to negotiate a tougher nuclear deal. Iranian officials have rejected the offer.