ISLAMABAD – Pakistan has decided to fully stand with Iran after USwithdrawal from the historic nuclear deal.

Pakistan foreign ministry statement issued here said ‘arbitrarilyrescinding’ such agreements “will undermine confidence in the value ofdialogue and diplomacy in the conduct of international relations and thepeaceful resolution of disputes.”

Pakistan, the statement said: “believes that the Joint Comprehensive Planof Action represents a very good example of a negotiated settlement ofcomplex issues, through dialogue and diplomacy.”

“We had welcomed the JCPOA when it was concluded and hope that all partieswill find a way for its continuation, especially when the InternationalAtomic Energy Agency has repeatedly verified Iran’s compliance,” it said.

On May 8, President Trump walked out of the agreement calling JCPOA a‘horrible, one-sided deal that should have never, ever been made.’ Trumpsaid he would work to find a ‘real comprehensive and lasting’ deal totackle not only the Iranian nuclear program but its ballistic missile testsand activities across the Middle East. The US President warned that hiscountry would re-impose economic sanctions that were waived when the dealwas signed in 2015.

The sanctions would target industries mentioned in the deal, includingIran’s oil sector, aircraft manufacturers exporting to Iran and Iraniangovernment attempts to buy US dollar banknotes. This is expected to hitmajor European and US companies. Some exemptions are due to be negotiated.

US National Security Adviser John Bolton said the European companies doingbusiness in Iran will stop their activities within six months or they willhave to face US sanctions.

The deal was agreed between Iran and the five permanent members of the UNSecurity Council – the US, the United Kingdom, France, China and Russia -plus Germany. It was struck by Trump’s predecessor Barack Obama. The othermember countries have not yet seconded Trump’s decision.