Rouhani: Action Needed to Save Nuclear Deal

Iranian President Hassan Rouhani says it will be difficult for Tehran to stay in the 2015 nuclear accord it signed with world powers if it cannot benefit from the agreement.

Rouhani told French President Emmanuel Macron in a phone call Tuesday that the remaining co-signers to the treaty — France, Britain, Germany, Russia and China — will have to find a way to compensate Iran after President Donald Trump decided to withdraw the United States from the pact and reimpose sanctions.

In the landmark agreement, reached during the Obama administration, the world powers had agreed to lift international sanctions on Iran in exchange for Tehran’s promise to scale back its nuclear activities.

Trump said the deal was flawed because it favored Iran more than the others. His decision to withdraw in May has left France, Germany and Britain scrambling to make sure Iran receives enough financial incentive to stay in the deal.

Rouhani’s website quoted him as saying: “We must not let this great achievement of diplomacy be destroyed by others’ unilateral actions, which are unfaithful to their promises.”

French officials have indicated that the rest of the signatories plan to meet soon in Vienna.

Source : VOA

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Shanghai stocks end higher as Trump, Kim sign ‘comprehensive’ deal at summit

Shanghai stocks recovered from early losses to end higher on Tuesday, as sentiment improved after U.S. President Donald Trump and North Korean leader Kim Jong Un signed a ‘comprehensive’ deal aimed at the denuclearisation of the Korean peninsula.

The blue-chip CSI300 index ended 1.2 percent higher at 3,825.95 points, while the Shanghai Composite Index ended up 0.9 percent at 3,079.80 points, snapping a three-session losing streak.

There were no immediate details on the contents of the document, but Donald Trump said he expected the denuclearisation process to start ‘very, very quickly’.

Sectors rallied across the board, led by consumer and healthcare firms. Jiangsu Yanghe Brewery rose 6.4 percent to a record high, while the world’s most valuable liquor maker Kweichow Moutai also closed at a fresh peak.

However, caution still prevailed, with more than a dozen of stocks plunging to their lower limit of 10 percent, as investors worried about liquidity conditions amid credit risks and more listings by technology giants that could sap the already-tight funding.

Source: Reuters

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China to Host Rouhani After US Withdrawal From Iranian Nuclear Deal

Amid current tensions between Washington and Tehran, Chinese President Xi Jinping will meet Iranian President Hassan Rouhani on the sidelines of the forthcoming Eurasian Shanghai Cooperation Organization (SCO) meeting June 9-10 in Qingdao, China.

Analysts say Rouhani’s presence at the SCO conference will send a message that China is ready to fill the void left after the U.S. withdrew from the Iran nuclear deal earlier this month.

Xi supported the 2015 Iran nuclear accord, which Trump had called deeply flawed before withdrawing America from the deal, formally called the Joint Comprehensive Plan of Action (JCPOA).

Hassan Askari Rizvi, a Pakistan-based expert on international affairs, told VOA that China could use this opportunity to expand its influence and grow its business in Iran, filling a void left by the U.S. It could be an important step for China to grow its presence in the Middle East, he added.

Walter Andersen, former chief of the U.S. State Department’s South Asia Division in the Office of Analysis for the Near East and South Asia, told VOA that Iran is not a member of the SCO. He said Rouhani was likely attending the summit because of tense relations between Tehran and Washington.

Andersen added that China should be careful before announcing any new trade-related policy with Iran as the U.S. has said that any company dealing with Iran would be subject to sanctions as well.

Topics of discussion at the upcoming SCO summit are to include terrorism, separatism, extremism and cybersecurity breaches.

The two main players of the bloc, China and Russia, could ask other countries, such as Pakistan, India and Iran, to look toward Beijing and Moscow rather than the West.

Source : Voanews

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