US says it opposed Israeli strikes in Syria
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Al Arabiya
3 hours ago
- Al Arabiya
Europeans to test Iran's appetite for nuclear compromise as sanctions loom
France, Britain and Germany will hold face-to-face talks with Iran on Friday for the first time since US and Israeli strikes on Iranian nuclear sites in June, aiming to gauge Tehran's appetite for a compromise to avert sanctions, diplomats say. The three European countries, along with China and Russia, are the remaining parties to a 2015 deal – from which the US withdrew in 2018 – that lifted sanctions on Iran in return for restrictions on its nuclear program. Friday's talks between senior diplomats from the so-called E3 group and Iran's negotiating team will be held in Istanbul. The United States held five rounds of talks with Iran prior to its airstrikes in June, which US President Donald Trump said had 'obliterated' a program that Washington and its ally Israel say is aimed at acquiring a nuclear bomb. Iran denies seeking a nuclear weapon. European and Iranian diplomats say there is no prospect of Iran re-engaging with the US at the negotiating table for now. But the Europeans say negotiations must be revived due to a halt in inspections of nuclear facilities by the International Atomic Energy Agency (IAEA) and as an October 18 deadline for the expiration of the 2015 deal draws closer. They also want answers over the location of 400 kg (880 pounds) of near-weapons grade highly enriched uranium, whose whereabouts have not been known since last month's strikes. 'We are determined to do everything to reach a diplomatic solution,' German Foreign Minister Johann Wadephul told a press conference in Paris on July 18. Snapback or extension? Under the terms of the UN Security Council resolution enshrining the 2015 deal, UN sanctions could be reimposed before the agreement expires – a process that would take about 30 days. The E3, who do not want to lose leverage by letting the deal expire, have warned that unless there is a new nuclear accord they will launch the 'snapback mechanism,' which would restore all previous UN sanctions on Iran, including on the oil, banking and defense sectors. With Russia – an ally of Iran – taking over the Security Council presidency in October, the three European countries have signaled that the latest window to reactivate the sanctions would be the end of August. Three European, one regional and an Iranian diplomat said the meeting in Istanbul would focus primarily on the issue of the snapback mechanism. They said the E3 would float the possibility to Iran of extending the snapback mechanism by up to six months. In return, Iran would need to make commitments on key issues, including eventual talks with Washington, full cooperation with the IAEA, and accounting for its stockpile of highly enriched uranium. Speaking to reporters at the UN on Wednesday, Iranian Deputy Foreign Minister Kazem Gharibabadi, who will be in Istanbul, said Tehran had agreed to allow a technical team from the IAEA to visit in the coming weeks. He warned that a triggering of the snapback mechanism would be met with a strong response from Tehran. It has previously threatened to leave the Non-Proliferation Treaty (NPT) over the issue. Gharibabadi added that he had heard about the possibility of an extension. 'That's very premature now to discuss the issue of the extension. We have almost about three months actually, till the deadline of 18th of October,' he said. A Trump administration official, speaking on condition of anonymity, said the US was 'coordinated' with the E3 when asked whether Washington was discussing the reimposition of sanctions with them, but declined to elaborate. Israel's Strategic Affairs Minister Ron Dermer was in Paris on Thursday and due to meet French officials for talks on various subjects, including Iran, four sources said. Israel launched the attacks on Iran saying it wanted to remove any chance of its arch-foe developing nuclear weapons.
Asharq Al-Awsat
3 hours ago
- Asharq Al-Awsat
EU Approves Counter-tariffs on US Goods, Says Trade Deal within Reach
The European Commission said on Thursday a negotiated trade solution with the United States is within reach - while EU members voted to approve counter-tariffs on 93 billion euros ($109 billion) of US goods in case the talks collapse. The 27-nation bloc's executive has repeatedly said its primary focus is on reaching a deal to avert 30% US tariffs that US President Donald Trump has said he will apply on August 1. "Our focus is on finding a negotiated outcome with the US ... We believe such an outcome is within reach," an EU spokesperson said in response to reporters' questions, Reuters reported. Alongside negotiations, the Commission has pressed on with plans for potential countermeasures, merging two packages of proposed tariffs of 21 billion euros and 72 billion euros into a single list and submitting this to EU members for approval. The rate would be up to 30%, designed to mirror US tariffs, EU sources said. Diplomats said EU countries overwhelmingly approved the measures on Thursday, which the Commission later confirmed. The first package of countermeasures would enter force on August 7, with tariffs on soybeans and almonds delayed until December 1, an EU official said. The second package would enter force in two stages on September 7 and February 7. So far the EU has held back from imposing any countermeasures, despite Trump's tariffs already covering 70% of EU exports. EU member states authorised the first package of countermeasures in April, but these were immediately suspended to allow time for negotiations. CLOSING ON DEAL The EU and United States now appear to be heading towards a possible trade deal, according to EU diplomats, which would result in a broad 15% tariff on EU goods imported into the US, mirroring a framework agreement Washington struck with Japan. Trump would still need to take any final decision. The White House said discussions of a deal should be considered "speculation". Trump trade adviser Peter Navarro told Bloomberg News the report from the EU should be taken with "a grain of salt." French Finance Minister Eric Lombard and Italian Industry Minister Adolfo Urso told a joint press conference in Paris they were not aware of a draft agreement, Urso adding he would only pass judgment when one was reached. There was little information available about what the EU would offer the United States to secure a deal. One EU diplomat said the bloc was not looking at a pledge of investment in the United States, as Japan has agreed. Another said the EU might reduce some of its own duties. Its current import duty for cars is 10%. Under the outlines of the potential deal, the 15% rate could apply to sectors including cars and pharmaceuticals and would not be added to long-standing US duties, which average just under 5%. There could also be exemptions for sectors such as aircraft, lumber as well as some medicines and agricultural products, which would not face tariffs, diplomats said. Washington does not, however, appear willing to lower its 50% tariff on steel.
Arab News
3 hours ago
- Arab News
Saudi Arabia signs $6.4bn investment deals with Syria to boost reconstruction
RIYADH: Saudi Arabia has signed investment deals worth $6.4 billion with Syria, marking a significant step in the Kingdom's efforts to re-engage economically with the war-ravaged country and support its reconstruction drive. The agreements, spanning sectors such as real estate, telecommunications, and finance, were unveiled by Investment Minister Khalid Al-Falih during the Syrian-Saudi Investment Forum held in Damascus on July 25. The forum highlights Saudi Arabia's strong commitment to strengthening Syria's financial landscape. In April, the Kingdom joined Qatar in settling the country's $15 million debt to the World Bank. 'During this forum, we will witness the signing of 47 agreements and memoranda of understanding with a total value approaching SR24 billion ($6.4 billion), said Al-Falih. The deals include $1.07 billion in the telecommunications sector, with Syria's Ministry of Communications and several Saudi telecom companies aiming to deepen bilateral ties. Companies involved in the plans include Saudi Telecom Co., GO Telecom, digital security firm Elm, cybersecurity company Cipher, and education technology firm Classera. In the real estate and infrastructure sectors, deals worth $2.93 billion were announced, including the construction of three new Saudi-financed cement plants to support Syria's reconstruction efforts. The two nations also agreed to enhance cooperation in agriculture. 'In the agricultural sector, we look forward to collaborating in Syria to develop high-quality joint projects, including model farms and processing industries,' said Al-Falih. In finance, a memorandum of understanding was signed between the Saudi Tadawul Group and the Damascus Securities Exchange to boost cooperation in the fintech sector. Al-Falih also announced the formation of a Saudi-Syrian Business Council, which is expected to further strengthen trade and economic ties between the two countries. Speaking at a separate panel discussion during the forum, Al-Falih said Syria is evolving into a more investment-friendly destination, despite ongoing challenges. 'Syria is leaping forward as an investment-attractive country despite all challenges. Since the beginning of its new era, we have witnessed a genuine desire to provide investment opportunities for Saudi businessmen,' he added.
