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Can European business and technology save the Iran deal?

Far from being a passive bystander as the Trump administration moves to tear up the Iran nuclear deal, Europe has plenty of options to save the accord.
EDITORS' NOTE:  Reuters and other foreign media are subject to Iranian restrictions on their ability to film or take pictures in Tehran.

Workers manage the control room on the SPQ1 gas platform on the southern edge of Iran's South Pars gas field in the Persian Gulf off Assalouyeh,  1,000 km (621 miles) south of Tehran, January 26, 2011. Picture taken January 26, 2011. REUTERS/Caren Firouz (IRAN)
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One of the current concerns of international companies planning to do business in Iran is the threat of a US withdrawal from the Joint Comprehensive Plan of Action (JCPOA) and the reintroduction of US secondary sanctions. While EU officials are trying to think of mechanisms to counter potential future sanctions against European companies and banks, the more important challenge is how to entice Iran to remain committed to the nuclear deal, even if Washington withdraws.

Iranian officials have been clear that Tehran would only stay committed if it receives enough benefits from staying in the deal. To underline this position, while in London on Feb. 22, Iran’s deputy foreign minister, Abbas Araghchi, said: “If the same policy of confusion and uncertainties about the JCPOA continues, if companies and banks are not working with Iran, we cannot remain in a deal that has no benefit for us.”

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