Iran threatens to withdraw from JCPOA if banks continue to stay away

Iran will withdraw from the 2015 nuclear deal if there is no economic benefit and major banks continue to shun the Islamic Republic, its deputy foreign minister Abbas Araqchi said.

"The deal would not survive this way even if the ultimatum is passed and waivers are extended," Araqchi said in a speech at the Chatham House think tank in London.

"If the same policy of confusion and uncertainties about the JCPOA (Joint Comprehensive Plan of Action) continues, if companies and banks are not working with Iran, we cannot remain in a deal that has no benefit for us. That’s a fact," Reuters cited the minister as saying.

US President Donald Trump told the Europeans on January 12 they must agree to "fix the terrible flaws of the Iran nuclear deal" or he would re-impose the sanctions Washington lifted as part of that pact.