SCMP: China backs Iran nuclear deal as United States walks away, but could it be a costly decision? | Forum

Admin May 9 '18

Written by Kinling Lo

Beijing says it will ‘protect and execute the agreement’, but reintroduction of US sanctions could hit Chinese firms, analysts suggest

China said on Wednesday it remains committed to the Iran nuclear deal despite the United States’ decision to withdraw from it, a move analysts said would bring Tehran and Beijing closer together but could harm China’s economic interests.

Foreign ministry spokesman Geng Shuang said China would “maintain communication with all parties and continue to protect and execute the agreement fully”.

His comments came after the announcement by US President Donald Trump to abandon the Joint Comprehensive Plan of Action (JCPOA) – signed in 2015 under the Barack Obama administration – was roundly criticised by the deal’s other signatories, namely France, Germany, the United Kingdom, Russia, Iran and the European Union.

Hans Dietmar Schweisgut, the EU ambassador to Beijing, said on Wednesday that the nuclear deal would not fall apart despite the United States’ withdrawal.

The EU believed “that this is an agreement which belongs to the international community”, he said. “This is not an agreement that will fall apart if you just walk away.”

Trump said he wanted a “better deal” from the Middle Eastern nation that would see it accepting permanent limits on its uranium enrichment and missile development programmes.

Meanwhile, the US Treasury said it would reimpose sanctions on Iran – targeting, among other things, aircraft exports to the country, its metals trade and its attempts to acquire US dollars – after the expiration of 90- and 180-day wind-down periods.

[b]For full article, please go to the news website.[/b]