Iran's Rouhani in Vienna to shore up nuclear deal

Iranian Vice President Jahangiri speaks during a news conference after a meeting with Iraq's top Shi'ite cleric in Najaf

"Iran will survive this round of U.S. sanctions as it has survived before". They have expressed strong disappointment at the US withdrawal.

TRT World spoke to Sami Hamdi on the possible impact of an Iranian oil imports ban.

But all the other signatories to the nuclear deal say they still support it.

Iranian Foreign Minister Mohammad Javad Zarif is set to meet with counterparts from the five other countries in the nuclear deal - the United Kingdom, France, Germany, Russia and China - on Friday in a bid to save the deal, which sought to curb Iran's nuclear program in exchange for sanctions relief from the USA and others.

Mr Rouhani met Austrian leaders on Wednesday after a visit to Switzerland that failed to secure hoped-for commercial contracts, including a deal to buy subway carriages for Tehran's metro.

"We are not looking to grant licenses or waivers, because doing so would substantially reduce pressure on Iran and this is a campaign of imposing pressure on Iran.We are prepared to work with countries that are reducing their imports on a case-by-case basis, but as with our other sanctions, we are not looking to grant waivers or licenses", said Brian Hook, Director of Policy Planning at the State Department, on July 2, when asked specifically about concessions for India. Oil remains Iran's lifeblood and supplies roughly 40 percent of the government's revenue.

US President Donald Trump unilaterally pulled out of the agreement almost two months ago, to the ire of the other signatories - China, France, Germany, Britain and Russian Federation - which along with the European Union have continued to back the accord.

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Iran now exports around 2 million barrels per day of its oil from a total production of over three million barrels per day.

The administration's tough new stance on Iranian exports, which goes far beyond what the Obama administration demanded and what most market experts were expecting, suggests that Russian Federation and Saudi Arabia have agreed to make up whatever Iranian production is taken out of the market, Vakhshouri said.

The US Navy's 5th Fleet, which patrols the region, has said it has not seen any "unsafe and unprofessional" actions by Iranian naval forces in the Persian Gulf since August 2017.

"It will increase the prices of oil in the global markets", he said. USA officials also warned that other countries would face sanctions unless they stopped doing business with Iran. It produced some 2.8 million barrels of oil per day in May, according to the most recent figures released by OPEC. Saudi Arabia has acknowledged the call took place, but mentioned no production targets.

The oil company previously announced in November it had plans to expand its capacity to 3.5 million barrels of oil per day.

During the meeting the ministers will discuss an "incentive package" the European Union is offering to try to persuade Iran to stay in the agreement, IRNA reported.

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