AIRLINK 74.00 Decreased By ▼ -0.25 (-0.34%)
BOP 5.14 Increased By ▲ 0.09 (1.78%)
CNERGY 4.55 Increased By ▲ 0.13 (2.94%)
DFML 37.15 Increased By ▲ 1.31 (3.66%)
DGKC 89.90 Increased By ▲ 1.90 (2.16%)
FCCL 22.40 Increased By ▲ 0.20 (0.9%)
FFBL 33.03 Increased By ▲ 0.31 (0.95%)
FFL 9.75 Decreased By ▼ -0.04 (-0.41%)
GGL 10.75 Decreased By ▼ -0.05 (-0.46%)
HBL 115.50 Decreased By ▼ -0.40 (-0.35%)
HUBC 137.10 Increased By ▲ 1.26 (0.93%)
HUMNL 9.95 Increased By ▲ 0.11 (1.12%)
KEL 4.60 Decreased By ▼ -0.01 (-0.22%)
KOSM 4.83 Increased By ▲ 0.17 (3.65%)
MLCF 39.75 Decreased By ▼ -0.13 (-0.33%)
OGDC 138.20 Increased By ▲ 0.30 (0.22%)
PAEL 27.00 Increased By ▲ 0.57 (2.16%)
PIAA 24.24 Decreased By ▼ -2.04 (-7.76%)
PIBTL 6.74 Decreased By ▼ -0.02 (-0.3%)
PPL 123.62 Increased By ▲ 0.72 (0.59%)
PRL 27.40 Increased By ▲ 0.71 (2.66%)
PTC 13.90 Decreased By ▼ -0.10 (-0.71%)
SEARL 61.75 Increased By ▲ 3.05 (5.2%)
SNGP 70.15 Decreased By ▼ -0.25 (-0.36%)
SSGC 10.52 Increased By ▲ 0.16 (1.54%)
TELE 8.57 Increased By ▲ 0.01 (0.12%)
TPLP 11.10 Decreased By ▼ -0.28 (-2.46%)
TRG 64.02 Decreased By ▼ -0.21 (-0.33%)
UNITY 26.76 Increased By ▲ 0.71 (2.73%)
WTL 1.38 No Change ▼ 0.00 (0%)
BR100 7,874 Increased By 36.2 (0.46%)
BR30 25,596 Increased By 136 (0.53%)
KSE100 75,342 Increased By 411.7 (0.55%)
KSE30 24,214 Increased By 68.6 (0.28%)

Iran's foreign minister made a flying visit for talks with host France at the G7 summit on Sunday, as Paris ramped up efforts to ease tensions between Tehran and Washington, a dramatic diplomatic move that the White House said had surprised them. European leaders have struggled to tamp down the brewing confrontation between Iran and the United States since Trump pulled Washington out of Iran's internationally-brokered 2015 nuclear deal and reimposed sanctions on the Iranian economy.
Foreign Minister Mohammad Javad Zarif, who is under US sanctions, flew to the southwest French town of Biarritz where the Group of Seven leaders are meeting. He held more than three hours of talks, including with Macron, before heading back to Tehran. "Road ahead is difficult. But worth trying," Zarif tweeted, adding that in addition to meeting French leaders he had given a joint briefing to officials from Germany and Britain.
French officials sought to bill the meeting as important to "refine Iranian propositions" to help defuse the crisis after G7 leaders had discussed Iran over dinner on Saturday night. "The discussions that were held between the president and Zarif were positive and will continue," a French official said after the meeting, declining to take detailed questions.
The 2015 nuclear deal between Iran and major powers aimed to curb Iran's nuclear activities in exchange for the lifting of many international sanctions on Tehran. Since pulling Washington out of the deal last year, Trump has pushed a maximum pressure policy to try to force Iran into a new negotiation that would include its ballistic missile programme and regional activities.
While Trump's European allies also want new talks with Iran, they believe the nuclear deal must be upheld. Macron, who has taken the lead in Europe in trying to salvage the agreement and avert a deeper crisis in the Middle East, had already met Zarif in Paris on Friday. They discussed proposals to de-escalate tensions between Washington and Tehran, including easing some US sanctions or providing Iran with an economic compensation mechanism to make up for oil revenues lost under US sanctions.
NO PROGRESS ON OIL SANCTIONS
But despite Macron spending two hours with Trump over lunch on Saturday and all seven leaders discussing Iran at length in the evening, it did not appear that the US leader had budged on easing oil sanctions as Macron had sought from Trump. A European diplomat familiar with the discussions said the leaders had failed at the dinner to persuade Trump.
There was no immediate comment from Trump on Iran, but he had earlier appeared to brush aside French efforts to mediate with Iran, saying that while he was happy for Macron to reach out to Tehran to defuse tensions, he would carry on with his own initiatives. Zarif's arrival had caught Trump by surprise, a White House official said, while other delegations said they had been informed at the last minute.
The Elysee said delegations had been informed, but everything had happened very quickly. US authorities earlier this month placed Zarif under US sanctions. "Zarif will convey the Iranian leadership's response to French President Emmanuel Macron's proposal aimed at saving Iran's 2015 nuclear deal," a senior Iranian official had told Reuters.
In response to the tougher US sanctions and what it says is the failure of European powers party to the deal - France, Britain and Germany - to compensate it for lost revenues, Tehran has responded with a series of moves, including retreating from some of its commitments to limit its nuclear activity. Highlighting just how difficult it will be ease tensions, two Iranian officials and one diplomat told Reuters on Sunday that Iran wants to export a minimum of 700,000 barrels per day of its oil and ideally up to 1.5 million bpd if the West wants to negotiate with Tehran to save the nuclear deal.
One of the Iranian officials also said Iran's ballistic missile programme was not open for negotiation. "We'll do our own outreach, but, you know, I can't stop people from talking. If they want to talk, they can talk," Trump said earlier when asked about Macron's mediation efforts. The United States has made no indication it will ease any curbs and it is unclear what kind of compensation mechanism Macron wants to offer Iran, given at this stage a proposed trade channel for humanitarian and food exchanges with Iran is still not operational.

Copyright Reuters, 2019

Comments

Comments are closed.