European and American companies could lose billions of dollars in commercial deals struck since the 2015 Iranian nuclear accord, and lose access to a major new export market.
Economically, Europe is anxious about the economic losses inflicted by the USA sanctions on Iran. They don't want to lose businesses or corporations that have established business with the Iranians.
"At this moment, our trading activity is business as usual".
Boykin stressed that if the European nations also decide to dismantle the deal and implement similar sanctions as the U.S., Iran would be even worse off. "Iranian is not the only crude", the manager told Reuters. US investment bank Jefferies said in a note on Friday that it expects Iranian crude oil exports to start falling in the next few months.
Outside Europe, one of Iran's single biggest customers-China-has already reassured Tehran that it would continue to import its crude.
The IAEA has so far confirmed that Iran is adhering to its "nuclear-related commitments" although the USA administration questions that conclusion.
Trump repeated the USA demand for tougher inspections on May 10.
"You heard last night that the president of America made some silly and superficial comments, " Khamenei said, according to Reuters.
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Virginia politicians were quick to react Tuesday to the USA pulling out of the Iran nuclear deal.
They also burned a copy of the Iran deal, formally known as the Joint Comprehensive Plan of Action.
USA allies, including France, Germany, and the United Kingdom, said publicly that they disagreed with Trump's assessment and would continue to uphold the deal. Yet Iran's nuclear program is inseparable from its overall national security strategy, which focuses on the projection of nonconventional power far from Iran's borders.
Trump is hoping for a third scenario: Iran caves in to his and Prime Minister Netanyahu's absurd demands and prostrates itself before its enemies, agreeing to forfeit its right to a conventional ballistic missile program and its regional influence, all in exchange for continuance of the shaky economic relief it was entitled to under the original deal.
European countries say Mr Trump's decision will increase the risk of conflict in the region.
Rouhani for his part said Iran's economic interests would however need to be "guaranteed" in light of Trump's decision, the Iranian presidency's website said.
European Council President Donald Tusk expressed his disapproval over Trump's decision, saying the move "will meet a united European approach".
"The EU at least stands a chance of preserving the nuclear deal and preventing another Middle East war", he said.
"If we achieve the deal's goals in cooperation with other members of the deal, it will remain in place", he said. We have many treaties with the United States dating back long decades and none.