On this background it is recommended that clients, now involved in or considering trade to Iran, obtain external legal advice on how best to deal with the situation. Iran's Foreign Minister Zarif failed to win any concrete assurances to help tackle the US threat of economic sanctions during talks in Beijing Sunday.
On the plus side, oil prices have risen as a no-brainer outcome of Trump's withdrawal from the Joint Comprehensive Plan of Action-so Total's shares are up too. But the US withdrawal is a severe blow to the sustainability of the agreement.
Part of the flaw with the Iran deal that President Trump rejected was it enticed Europe and the USA into economic relations with Iran that would work against holding the country accountable for violations of the agreement, Bolton said.
The big question now is how the USA will treat its allies, which want to maintain the deal despite the U.S.'s withdrawal: Will it take measures against their companies if they continue to do business with Iran?
British Prime Minister Theresa May and Mr Trump agreed in a phone call that talks were needed to discuss how USA sanctions on Iran would affect foreign companies operating in the country.
The EU, which with Germany, France, Britain, Russia, China and the United States, signed the nuclear accord with Iran, does have some steps it can take to shield European business in Iran.
Iran's Supreme Leader Ayatollah Ali Khamenei is still miffed by the decision of the US to pull out of the nuclear deal describing the move by Trump as "silly", "impudent" and "worthless".
If the Obama administration wished to bind the American people to the nuclear deal, it would have sent it to the U.S. Senate. "Indeed I would argue that they thought they could act with impunity". The JCPOA has ensured that Iran's nuclear program remains peaceful in exchange for sanctions relief.
However, Trump is getting huge support from a coalition of Muslim nations. There is no plan. It's very unsafe. It's sending the signal that the United States wants to confront Iran, and that's a signal that the Israelis and the Saudis are all too eager to hear."On Friday, the White House issued a statement condemning Iran's Revolutionary Guard Corps". That comes straight from the State Department.
Minister for trade and export David Parker last week said it was still unclear to the nations who remained in the nuclear agreement what exports or trade were at risk when associating with Iran.
Conversely, while Europe may strongly disagree with Washington's unilateral exit, it too, can work to stem any trans-Atlantic fissure. The administration does not have a plan for how to make the sanctions, which they valued more than the agreement and their relations with Europe, work.
In the CNN interview, Bolton did not respond directly when asked whether Trump might seek "regime change" in Iran, or whether the United States military would be ordered to make a pre-emptive strike against any Iranian nuclear facility.
In her latest comments on Iran and sanctions, Chancellor Merkel said: "It is in our interest to have a strong transatlantic relationship".
The two leaders also looked forward to Mr Trump's visit to the United Kingdom in July, Downing Street said.
Another possibility is that Trump does manage to destabilize Iran's regime. Whatever Trump may fantasize, intelligence professionals say this is not a pre-revolutionary moment in Iran.
And on Monday Putin met Yukiya Amano, the head of the International Atomic Energy Agency, telling him that Russian Federation was "ready to continue to uphold the Iran nuclear deal despite the withdrawal of the United States". The withdrawal of the US from the deal does not mean it has ended; however, it is an offense to European Union - one of the closest ally to the former nation.
"For the first time, Iran has the chance to show the world they are not the rogue nation they are always presented as, that they negotiated in good faith and keep to their commitments", said Karim Emile Bitar of the Institute for global and Strategic Studies in Paris. Though ineffective, it was the first time Iranian forces had directly fired on Israeli territory.
"Iran strongly condemns ...(Israel's) attacks on Syria".