Several Irish firms began trading with Iran, the Middle East's second-largest economy, in the wake of the 2015 deal to control Tehran's nuclear ambitions, which led to the lifting of long-standing global sanctions and the resumption of formal trade ties with several European countries.
Part of the flaw with the Iran deal that President Trump rejected was it enticed Europe and the United States into economic relations with Iran that would work against holding the country accountable for violations of the agreement, Bolton said.
Tehran has warned it is preparing to resume "industrial-scale" uranium enrichment "without any restrictions" unless Europe can provide solid guarantees that it can maintain the economic benefits it gained from the nuclear agreement despite the U.S. reimposing sanctions.
Zarif further censured the U.S. under Trump for developing the habit of voicing opposition to worldwide deals and regulations.
Iran's foreign minister has held talks in China as he began a diplomatic tour with the remaining signatories of a multinational nuclear deal following the recent United States withdrawal from the landmark 2015 pact.
Iran's president Hassan Rouhani has assigned his foreign minister to review the future of the Joint Comprehensive Plan of Action (JCPOA), through direct talks with his British, Chinese, French, German and Russian counterparts.
"The wealth that was created in Iran as a result of the JCPOA drove Iranian malign activity".
Major European powers sought Tuesday to keep Iran in a landmark worldwide nuclear agreement after President Donald Trump pulled the USA out of the pact and promised tough economic sanctions against Tehran.
Maas said the Europeans wanted to wanted to ensure that Iran would continue to abide by the rules and restrictions of the nuclear agreement.
The sanctions will target critical sectors of Iran's economy, including petrochemicals, energy and finance.
Trump denounced the accord, completed under his predecessor Barack Obama, as a "horrible, one-sided deal that should have never, ever been made" as it did not cover Iran's ballistic missile programme or its role in Middle East conflicts.
"But it really is a question mark as to what Europe can do for them in the face of ... I think that will sink in; we'll see what happens then", Bolton said.
In an interview with ZDF public television, Altmaier noted the United States has set a 90-day deadline for foreign firms to comply with the return of sanctions and that this period can be used to convince Washington to change course.
The U.S. decision reignited the danger of economic crisis for Iran, which is now at the center of Tehran's diplomatic efforts.