Pres. Rouhani: Taking full advantage of JCPOA important for Iran

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US President Donald Trump's decision on Wednesday to pull out of the Iranian nuclear deal, which his predecessor Barack Obama painstakingly put together in 2015 with America's closest Western allies in the UN Security Council, Britain and France, besides Russian Federation and China, and Germany, can have likely unintended consequences.

France's economy minister Bruno Le Maire urged European nations on Friday to defend themselves against U.S. sanctions targeting foreign companies that trade with Iran, as the rift between Washington and its allies deepens. The negotiations ended in 2015, when the United States entered into the Joint Comprehensive Plan of Action (JCPOA), an agreement widely known as the Iran Deal.

Donald Trump's decision to withdraw the U.S. from Iran's nuclear agreement has already raised Brent crude oil prices above 77 Dollars per barrel.

Their comments came as it was announced UK Foreign Secretary Boris Johnson will take part in emergency talks with his Iranian counterpart in Brussels next week.

She said she had been encouraged by Iranian President Hassan Rouhani's commitment to abide by the deal if the other signatories did so.

Erdoğan also called for development of economic relations, banking cooperation, the use of national currencies in business relations and the expansion of preferential trade between Iran and Turkey following the US' withdrawal from the JCPOA, adding "we should make every effort to protect the economies of our countries from intervention of others".

The Iran Deal is a bad deal for America and a bad deal for our allies.

There is some chatter in the markets suggesting Kuwait and Iraq as two producers with the best ability to raise output quickly in response to any fall in Iranian exports.

Zarif said American foreign policy had "dragged the Middle East into chaos".

The government said the United States pullout damages its credibility on the world stage and the credibility of accords the U.S. has signed, and puts "the present system of worldwide law in serious danger".

Asked whether the United States might impose sanctions on European companies that continue to do business with Iran, Bolton told CNN: "It's possible".

In a tweet on Sunday, Trump wrote: "Remember how badly Iran was behaving with the Iran Deal in place". "We will have to discuss that with Iran". Any future USA sanctions will have effects on this project.

UN Secretary General Antonio Guterres has urged Donald Trump not to walk away from an global deal created to prevent Iran acquiring nuclear weapons.