Hormuz Strait either for all, or for none: Iranian commander

GETTYPresident Hassan Rouhani warned Iran could soon halt exports of oil to neighbouring countries

GETTYPresident Hassan Rouhani warned Iran could soon halt exports of oil to neighbouring countries

The "threat" amounts to Iranian President Hassan Rouhani saying a United States attempt to block Iranian exports had "no meaning" so long as regional oil continues to be exported.

"The concerns, which we had last night and which were also expressed by President Rouhani, were addressed in the meeting and more details were disclosed, and they make us more optimistic than we were yesterday", he said.

The pillars of the European Union's strategy are: European Investment Bank lending, a special measure to shield EU companies from US secondary sanctions, and a Commission proposal that EU governments make direct money transfers to Iran's central bank to avoid USA penalties.

In calls Thursday with German Chancellor Angela Merkel and French President Emmanuel Macron, Iranian President Hassan Rouhani said since the US withdrawal "Iran has been dealing with economic issues and problems in banking relations and oil" and that foreign companies were "skeptical" about continuing their business, Iran's semi-official Mehr news agency reported.

Iran is also anxious about continuing its oil exports to other markets and about being shut out of global bank payments systems.

German Foreign Minister Heiko Maas also said that world powers would not be able to fully compensate for companies who are abandoning their operations in Iran.

Three European parties to the Iranian nuclear deal, as well as Russia and China, have agreed to create a special mechanism to maintain trade with Iran independently from Washington, the Russian Foreign Minister Sergey Lavrov said.

With tensions rising over the strategic waterway, the European Union is proposing a plan for salvaging a multinational nuclear deal with Tehran after Washington withdrew, but Iranian President Hassan Rouhani told leaders in Paris and Berlin on Thursday that the package did not go far enough.

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European Union foreign policy chief Federica Mogherini reads a statement after a meeting in Vienna, Austria, on July 6, 2018.

In the joint statement, Iran's Mohammad Javad Zarif and other top diplomats reconfirmed their commitment to the deal and its "economic dividends" for Iran, which has suffered worsening financial turbulence since Trump abandoned the accord. "We want this agreement to be maintained in the future".

"The Iran deal is defective at its core", he says. "To save the deal, other signatories should compensate for US sanctions", a senior Iranian official told Reuters on Friday.

"They must stop permanently threatening to break their commitments to the nuclear deal", Le Drian told RTL radio.

Since Trump's shock move in May, which dismayed all other signatories, Washington has warned other countries to end trade and investment in Iran and stop buying its oil from early November or face punitive measures.

On Jun 30 authorities say they have foiled an alleged plot to bomb a rally by an exiled Iranian opposition group based in France also attended by leading United States figures including former NY mayor Rudy Giuliani, Trump's personal lawyer.

The rial currency has fallen, prices have risen and the country has been hit by street protests and strikes.