Iran wants world powers to present measures guaranteeing oil revenue and investment into the country despite U.S. sanctions when ministers meet on Friday to save the 2015 nuclear deal, but European states will fall short of its demands, diplomats said.
President Donald Trump pulled the United States out of the multinational deal in May under which sanctions on Iran were lifted in return for curbs on its nuclear program, verified by the International Atomic Energy Agency (IAEA). Washington has since told countries they must stop buying the OPEC producer’s oil from Nov. 4 or face financial consequences.
Foreign ministers from Britain, China, France, Germany and Russia meet with their Iranian counterpart in Vienna for the first time since Trump left the pact, but diplomats see limited scope for salvaging it.
“The objective is to save the deal. We’ve made some progress, including on safeguarding some crude sales, but it’s unlikely to meet Iranian expectations. It’s also not just about what the Europeans can do, but also how the Chinese, Russians, Indians, others can contribute,” said a senior European diplomat.