Germany says Iran package will not fully compensate for US sanctions

President Donald J. Trump signs a National Security Presidential Memorandum as he announces the withdrawal of the United States from the Iran nuclear deal

The head of the Revolutionary Guards said on Thursday their forces were ready to block the strait, which links the Gulf to the Arabian Sea.

Even though Iran's Foreign Minister Mohammad Javad Zarif said that the United States actions "de-facto disrupted the agreement", thus giving Iran a right to withdraw from it as well, the Islamic Republic would not exercise this right, according to Lavrov. Washington has since told countries they must stop buying the OPEC producer's oil from November 4 or face financial consequences.

Speaking at a joint press conference with his Swiss counterpart, Alain Berset, in Bern on Tuesday, Iranian President Hassan Rouhani lashed out at American officials for threatening to stop Iran's oil exports, saying they would never be able to carry out such a threat.

"We are hopeful that this plan expressed by our president will be implemented if needed".

Under contingencies, the enemies can understand the meaning of Hormuz Strait "either for all, or for none", Jafari stressed.

U.S. commanders are issuing a flurry of statements Thursday promising to use military force to ensure "freedom of navigation" in the Strait of Hormuz.

The strait is the most important oil transit channel in the world with about one fifth of global oil consumption passing through each day.

Besides, Commander of the IRGC Quds Force Qasem Soleimani on Tuesday lauded Rouhani for responding strongly to a USA plan aimed at blocking Iran's oil sales, saying "this is the Dr. Rouhani we used to know and the one he should be".

Since the USA president pulled Washington out of the historic nuclear deal, European countries have been scrambling to ensure that Iran gets enough economic benefits to persuade it to stay in the deal.

Their foreign ministers agreed on an 11-point list of joint goals in Vienna, where the accord was signed three years ago with the aim of stopping Iran from building the atomic bomb in return for sanctions relief that promised greater trade and investment.

In a meeting with Russian President Vladimir Putin on the sidelines of a summit of the Shanghai Cooperation Organization (SCO) in June, President Rouhani said Russia plays a key role in maintaining the nuclear deal after United States withdrawal.

Under the JCPOA, Iran undertook to put limits on its nuclear program in exchange for the removal of nuclear-related sanctions imposed against Tehran.

Mogherini noted that companies pursuing business in Iran "have been acting in good faith based on the commitments contained in the JCPOA and endorsed at the highest level by the UN Security Council" and said the treaty states were committed to providing "clear and effective support for economic operators trading with Iran".

Al Jazeera's Jonah Hull, reporting from Vienna, said that in an "ideal world" the top diplomats would have come up with a package "to keep the deal alive".

"Unfortunately the proposed package lacked operational solution and specific method for cooperation, and featured just a set of general commitments like the previous statements by the European Union", the Iranian leader was quoted as saying on his official website.

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