ANALYSIS: When it comes to saving the Iran nuclear deal, Europe finds itself in the impossible situation of trying to salvage an accord unraveling because of the maximalist U.S. sanctions campaign. READ MORE from jongambrellAP:
FILE -- This Oct. 27, 2004 file photo, shows the interior of the Arak heavy water production facility in Arak, 223 miles southwest of Tehran, Iran. When it comes to saving Iran's nuclear deal, Europe finds itself in the impossible situation of trying to salvage an accord unraveling because of the maximalist U.S. sanctions campaign.
That talk faded as U.S. sanctions choked off Iran’s vital crude oil sales abroad and then began targeting its paramilitary Revolutionary Guard and officials including Supreme Leader Ayatollah Ali Khamenei. Soon, the talk changed to “strategic action” and making threats to the Strait of Hormuz, a crucial global oil supply point.
To Iran, the only people who now can prevent further escalation in the crisis are in Europe. Among the parties to the deal are Britain, France and Germany, while the European Union also has aided in the diplomacy.The “actions of the Europeans have not been enough so the Islamic Republic will move ahead with its plans as it has previously announced,” Iranian Foreign Minister Mohammad Javad Zarif said Monday.
The U.S. appears poised to potentially sanction INSTEX if it moves outside the bounds of food and medicine, which America still allows to be sold into Iran. And even if it did, there’s no sign that any major company would be willing to risk U.S. sanctions in the name of European diplomacy, something the Trump administration seems all too happy to point out.
Iran repeatedly has threatened to close off the strait if it can’t sell its oil. In the last two months, mysterious attacks struck oil tankers near the strait. Iran denies being involved, while the U.S. accuses Tehran of using limpet mines on the vessels.
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