"It depends on the conduct of other governments", adding he believes "they may try to [stay in the deal], in part because I think, despite President Trump's complete consistency in opposition to the deal ... many people, including, apparently, former Secretary of State John Kerry, thought that we never would get out of it".

"Is the USA going to impose sanctions on European companies that continue to do business with Iran?".

As a result of the new USA sanctions, companies worldwide must stop doing business with Iran or risk US fines or other punishment.

In Europe, France's finance minister Bruno La Maire says European countries should push back harder against the Trump administration over the Iran nuclear deal and not act as "vassals" to the U.S.

Trump announced a USA withdrawal from the 2015 nuclear deal on Tuesday and said he was preparing new sanctions against Iran.

Bolton expressed optimism that European allies will follow Trump's lead and exit the deal, despite the assertions of the leaders of France, the United Kingdom, and Germany that they intend to remain in the agreement.

In the one-day meeting, Iran will seek the European Union's "practical guarantees" stressed by Iranian President Hassan Rouhani and Supreme Leader Ayatollah Ali Khamenei as the only way to salvage the Iran nuclear deal, he added.

ADNOC Ships First Cargo For Indian Strategic Oil Reserve At Mangalore
The original agreement had lifted sanctions for Tehran limiting its nuclear program. "Let's see how things are moving". This kind of geopolitical (tension ) affects both consuming and producing countries.

The deal is set to expire at the end of 2018, but the Bank of America analysts said that OPEC and Russian Federation are likely to continue working together to prevent prices from falling. "We will have to discuss that with Iran". "Indeed, I would argue that they thought they could act with impunity", he said.

"In the end, the size of the US market dwarfs any prospect of any benefit they can get from Iran", Maloney said.

Higher crude prices have also caused a rally in the share price of big oil...

European governments tried for months to persuade Trump to stick with the deal but failed, and now fear it will raise the risk of conflict in the region.

"The consequences of American sanctions go well beyond goods shipped by American companies", Bolton said.

Europeans are most anxious about how to sustain incentives for Iran to stick to the groundbreaking accord signed by world powers in July 2015, which lifted global sanctions on Iran in 2016 in return for Tehran shutting down its capacity, under strict surveillance by the United Nations nuclear watchdog, to stockpile enriched uranium for a possible atomic bomb. Through a spokesperson, China earlier this week expressed support for continuing to operate under the framework of the JCPOA.