Major powers, Iran meet to salvage nuclear deal without US

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European Union Foreign Affairs and Security Policy High Representative Federica Mogherini is seen at the start of a meeting on Libya hosted by France's Foreign Minister Jean-Yves Le Drian on the sidelines of the UN General Assembly in New York on September 24, 2018. (AFP)
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European Union High Representative for Foreign Affairs and Security Policy Federica Mogherini arrives at a European Union leaders summit in Brussels, Belgium, March 22, 2018. (REUTERS)
Updated 25 September 2018
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Major powers, Iran meet to salvage nuclear deal without US

  • Highlighting just how difficult it will be for the Europeans to come up with concrete solutions, French state-owned bank Bpifrance on Monday abandoned its plan to set up a financial mechanism to aid French companies trading with Iran

UNITED NATIONS: Iran has ample reason to stay in the 2015 nuclear deal despite the US withdrawal and the remaining parties on Monday will discuss ways to blunt the effect of impending US sanctions on Tehran, the European Union’s foreign policy chief said.
Speaking before a gathering of senior officials from Britain, China, Germany, Russia and Iran, the EU’s Federica Mogherini made the case for Iran remaining in the deal that US President Donald Trump abandoned on May 8.
“An essential part of the agreement and its implementation regards Iran having the possibility of benefiting from the lifting of sanctions, and this is exactly why we are discussing tonight, operational concrete steps that we can put in place,” Mogherini told reporters before the talks at the United Nations.
“Iran has good arguments and good reasons to remain in the agreement. ... the more operational decisions we will manage to take and ... implement, I believe the more Iran will have reasons to do,” she added.
The European Union, however, has so far failed to devise a workable legal framework to shield its companies from US sanctions that go into effect in November and that, among other things, seek to choke off Iran’s oil sales, diplomats said.
Highlighting just how difficult it will be for the Europeans to come up with concrete solutions, French state-owned bank Bpifrance on Monday abandoned its plan to set up a financial mechanism to aid French companies trading with Iran.
The crux of the deal, negotiated over almost two years by the administration of former US President Barack Obama, was that Iran would restrain its nuclear program in return for the relaxation of sanctions that had crippled its economy.
Trump considered it flawed because it did not include curbs on Iran’s ballistic missiles program or its support for proxies in Syria, Yemen, Lebanon and Iraq.
The United States began reimposing economic sanctions this summer and the most draconian measures, which seek to force Iran’s major customers to stop buying its oil, resume Nov. 5.
Their impending return has contributed to a slide in Iran’s currency. The rial has lost about two-thirds of its value this year, hitting a record low against the US dollar this month.
There are limits to what the EU can do to counter the oil sanctions, under which Washington can cut off from the US financial system any bank that facilitates an oil transaction with Iran.


Danish billionaire loses three children in Sri Lanka blasts

Updated 22 April 2019
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Danish billionaire loses three children in Sri Lanka blasts

  • Danish media have reported that Holch Povlsen, his wife Anne and their four children were in Sri Lanka on vacation at the moment of the attacks
  • Povlsen is the main shareholder in the online fashion retailer ASOS as well as the owner of Bestseller

COPENHAGEN: Danish billionaire Anders Holch Povlsen lost three of his four children in the Easter day attacks in Sri Lanka, a spokesman for his clothing retail group Bestseller said on Monday.
Danish media have reported that Holch Povlsen, his wife Anne and their four children were in Sri Lanka on vacation at the moment of the attacks, which struck churches and luxury hotels killing nearly 300 people.
"I can confirm that three children have been killed," Jesper Stubkier, the communications manager for Bestseller, said in a statement.
"We ask you to respect the privacy of the family and we therefore have no further comments."
Considered to be Denmark's richest man, 46-year-old Holch Povlsen is the main shareholder in the online fashion retailer ASOS as well as the owner of Bestseller.
He inherited Bestseller from his parents who founded the firm in 1975.
The group, which includes brands such as Vero Moda, Only and Jack & Jones, has more than 3,000 stores in 70 countries.
In addition to the majority stake in Britain-based ASOS, Holch Povlsen also owns an interest in its German rival Zalando.
The billionaire also describes himself as "one of Scotland's largest landowners" on the website of the Wildland company he uses to invest in UK property.
"We wish to restore our parts of the (Scotland) Highlands to their former magnificent natural state and repair the harm that man has inflicted on them," Holch Povlsen and his wife say on the website.
"There are many vulnerable properties across all of the holdings that we have the wonderful and privileged opportunity to rehabilitate and restore to life."
Sri Lankan officials said Monday they believe that the local Islamist extremist group National Thowheeth Jama'ath (NTJ) was behind the attacks.
Dozens of foreigners are among those killed, while some 500 people were injured.