Ahead of Trump decision, Iran says seeks constructive relations with the world

LONDON: Iran seeks constructive relations with the world but will continue domestic development despite possible sanctions, President Hassan Rouhani said yesterday, hours before US President Donald Trump announces a decision on Iran’s nuclear deal.

Trump has repeatedly threatened to withdraw from the deal, which lifted economic sanctions on Iran in exchange for Tehran limiting its nuclear ambitions, unless European allies who also signed the deal fix what he has called its shortcomings.

“The foundation of our foreign policy is constructive relations with the world,” Rouhani said in a speech broadcast live on state television.

“If we are under sanctions or not, we should stand on our own feet. This is very important for the development of our country,” Rouhani said in a meeting with oil managers in Tehran. Iran said on Monday that its oil industry would continue to develop even if the United States re-imposed sanctions on Tehran.

Sanctions imposed on Iran in early 2012 by the United States and European Union over its nuclear programme cut Iran’s crude exports from a peak of 2.5 million barrels per day (bpd) before the sanctions to a little more than one million bpd. But Iran re-emerged as a major oil exporter in January 2016 when international sanctions were suspended.

Renewed nuclear sanctions would certainly cause severe problems for Iran’s economy, but much of the damage has already been done by the uncertainty created by the US and myriad home-grown problems.

It was awkward timing for the annual International Oil Show in Tehran this week, which opened just two days before Trump was due to make his decision.