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EU must increase Iran investments to save nuclear deal

Iran’s foreign minister has said the European Union must increase its investments in Iran in order for an endangered nuclear deal to be preserved following the US’ withdrawal from the multinational pact earlier this month.

Mohammed Javad Zarif made the comments on Sunday in Iran’s capital, Tehran, during a meeting with Miguel Arias Canete, the EU’s commissioner for energy and climate.

“Under the current circumstances, the EU’s political will is not enough to preserve the nuclear deal,” Zarif said.

“The EU needs to take more practical strides and increase its investments in Iran if it is to continue its economic cooperation with the [Iranian] Islamic Republic.”

His remarks came after several European companies expressed concern about continuing business with Iran following the US exit, raising further doubts about the viability of the deal

Danish shipping giant Maersk Tankers, German insurer Allianz and Italian steel manufacturer Danieli have all announced plans to halt, or wind down altogether, operations in the country.

French energy giant, Total, has also warned it will pull out of a multibillion-dollar project to develop Iran’s vast South Pars gas field unless granted a waiver by US authorities.


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