Iran and six world powers have agreed to implement a deal that would temporarily freeze much of Tehran's nuclear program. It's set to go into effect on January 20. In exchange some economic sanctions will be eased for six months.
The EU has been leading the efforts to salvage the nuclear deal with Iran following the US withdrawal from the international agreement. But the threat of imminent US sanctions is already having an impact on Iranians.
With US sanctions looming, European powers hoped to persuade Iran to remain in the 2015 agreement. The countries agreed to continue talks, although Iran's president has said European proposals aren't convincing enough.
The French shipping giant CMA CGM has pulled out of doing business with Iran for fear of antagonizing the US. Iranian President Hassan Rouhani has called on European countries to do more to offset renewed US sanctions.
Tehran has vowed to "defeat" attempts to curb its oil revenues by allowing private companies to export it. Iran also reminded Saudi Arabia that it was bound to an OPEC agreement to only boost exports collectively.
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