Iran sets deadline for Europe to prove it still supports nuclear deal

Tehran has set an end of May deadline for Europe to prove their support for the nuclear deal after the US decided to abandon it earlier this month.

Since America's withdrawal, European powers are trying to find a way to minimise the impact of the Trump administration's decision on Iran's economy and to persuade it to remain in the 2015 deal that reigns in its nuclear program.

Officials from the nations that opted to remain in the agreement met on Friday for the first time since US President Donald Trump’s decision.

According to Reuters, they assured Tehran that they would continue to invest in the country's firms and petrochemical sector.

EU leaders are already working to facilitate EU-based firms' presence in the central Asian country by helping to offset the potential impact from the US sanctions regime.

On Wednesday, Iran's supreme leader, Ayatollah Ali Khamenei, laid out five demands that Europe must meet in order to save the deal and which could prove a bit of a problem for the EU.

"Iran will resume halted nuclear activities if Europe fails to provide guarantees," Ayatollah Khamenei said.

His five demands were:

1. "The US has rejected Resolution 2231 to endorse the nuclear deal; Europe needs to issue a resolution against the US's repudiation of it."

2. "Europe must promise not to pursue concessions on Iran's missile programmes and regional affairs of the Islamic Republic."

3. "Europe must encounter any sanction against the Islamic Republic and explicitly stand to US’s sanctions."

4. "Europe must guarantee that Iran’s oil will be completely sold. If the US can damage the sale of our oil, we must be able to sell as much oil as we want. Europeans must guarantee that they compensate for the loss, and that they buy Iran's oil."

5. "European banks must guarantee transactions with the Islamic Republic. We have no conflicts with regard to these three countries; but we do not trust them, based on previous experience."