"It is essential that all parties should continue to abide by the deal", French Foreign Minister Yves Le Drian added, calling on the U.S.to respect it too. Expect the White House to double down on non-nuclear sanctions and generate enough uncertainty to dampen investor confidence in Iran, hindering its economic recovery and further straining relations. While the president remains sharply critical of the deal - even moving to "decertify" it under USA law in October - administration sources say he's now leaning toward once again approving the broad-based waivers.
With the deadline looming on Saturday, three months after the decertification of the deal by the White House last October, the Associated Press reported on Wednesday that Mr Trump "is expected this week to extend relief from economic sanctions to Iran as part of the nuclear deal, citing progress in amending USA legislation that governs Washington's participation".
Trump must decide by mid-January whether to continue waiving US sanctions on Iran's oil exports under the terms of the pact.
At a meeting with Iran, Britain, France, and Germany, convened by the EU's top diplomat Federica Mogherini, the European powers that helped negotiate the 2015 accord in Vienna will reassure Tehran they remain committed to it. The U.S. State Department said Tuesday the Trump administration was expected to decide on Friday.
Under the deal, Iran agrees to halt its nuclear weapon programme in exchange for economic aid and lifting of worldwide sanctions.
Beijing weighs slowing, halting purchases of US Treasuries
The U.S.is scheduled to reopen $20 billion of 10-year debt Wednesday, followed by $12 billion of 30-year bonds Thursday. NAFTA withdrawal tempered bets that the Bank of Canada will raise interest rates next week.
Iran, which on Monday warned the world to get ready for Washington abandoning the deal, has said if the USA walks away from the agreement it is ready to give an "appropriate and heavy response".
"The US government has lost the confidence of the world including the people of Iran", asserted Mohammad Javad Zarif, the Foreign Minister of the Islamic Republic of Iran.
"The United States must understand the unity of the worldwide community over the nuclear deal and change their position as a result", Zarif said, urging world powers to "resist the hostile actions" of the Trump administration.
According to the Tehran Times, Behrooz Kamalvandi, the deputy chief of the Atomic Energy Organization of Iran, said Wednesday that Iran would ramp up uranium enrichment operations - the key process for developing nuclear bombs - to levels far higher than before the 2015 deal if the USA backed out.
He made the remarks late on Wednesday addressing the media representatives in Moscow after his meeting with his Russian counterpart Sergey Lavrov.