European Union to switch from dollar to euro in payments for Iranian oil

Iran Nuclear Deal 2015

Iran Nuclear Deal 2015

British foreign secretary Boris Johnson release a statement asking the USA to refrain from an actions "that could prevent the remaining parties to the agreement from meeting their commitments under the deal" through the extra-territorial reach of the American sanctions regime.

"I'm privy to the information that the European Union is going to shift from dollar to euro to pay for crude from Iran", the website of Russian news channel RT said on Wednesday, citing a diplomatic source who spoke to Sputnik news agency.

She said all sides had agreed to find practical solutions over the coming weeks.

Mogherini said she couldn't give any legal or economic guarantees to Iran about the continuation of the deal.

Zarif said after his first meeting that talks were "moving in the right direction", adding that it was "a nice and constructive meeting".

The U.S. Treasury has put European businesses on notice that they have 90 days to wrap up most business with Iran before the renewed U.S. sanctions take effect, and U.S. leaders have been warning European companies to heed the sanctions.

Zarif said the latest US decision was "illegal".

Tehran has warned it is prepared to resume "industrial-scale" uranium enrichment "without any restrictions" unless Europe can provide solid guarantees that it can maintain the economic benefits it gained from the nuclear agreement despite the United States reimposing sanctions.

At the same time, the European diplomats wanted to show they weren't gullible and wouldn't drop other divisive issues with Tehran, including its role in the Syria conflict.

Mr Johnson said before the meeting: "We will be looking at all the ways we can come up with to protect legitimate United Kingdom and European businesses who may want to trade with Iran, who do want to trade and have great plans to do that".

Several Iranian officials told Reuters that as long as Iran could sell its oil and get its money, the deal remained alive.

Iran's Foreign Minister Mohammad Javad Zarif has described his talks with the foreign ministers of E-3 and the European Union foreign policy chief as "a good start".

The European Commission has been examining measures to counter the introduction of any USA sanctions that could harm European businesses.

Talks are already underway between the EU and Iran about how to maintain trade amid the reintroduction of USA sanctions which could see European companies penalised. "The Iranian nation will resist against the U.S. plots". Johnson said regime change in Iran was not a policy Britain should pursue. Supreme Leader Ayatollah Ali Khamenei, not Rouhani, has the last say on all state matters.

He said that "our means are there and we will use them, but don't fool ourselves our means are limited".

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