The Chahabar port isn't the only project that could take a hit - there's also the $1.6 billion India-Iran-Afghanistan railway line, and the International North South Transport Corridor (INSTC).
Merkel acknowledged that Iran was, in some respects, a destabilizing force in the Middle East.
"The heart of the Iran deal was a giant fiction", he asserted, adding that Iran has been actively pursuing nuclear weapons despite signing an agreement.
However Russian and Chinese companies - particularly the latter - could benefit because they are less exposed to the US.
Earlier Wednesday, French President Emmanuel Macron and Iran's Hassan Rouhani agreed to work toward "the continued implementation of the nuclear deal" along with Britain and Germany, despite the USA decision to withdraw from the agreement.
The deal lifted the harsh sanctions regime imposed on the country in return for strict limitations on Iran's nuclear program.
Khalid bin Salman, the Saudi ambassador to the U.S. and brother of the Crown Prince, wrote on Twitter that his country "fully supports" Trump's decision and added that "we always had reservations with regards to sunset clauses, ballistic missiles program, and Iran's support for terrorism in the region". But the specifics remain unclear.
With tensions already running high, Mr Burt sought to play down suggestions that the USA was ready to launch an attack on Iran, possibly using "proxies" such as the Israelis or the Saudis, who also remain highly suspicious of Tehran's nuclear ambitions.
While Trump's decision was met with dismay in Europe, Israel and Saudi Arabia praised the USA withdrawal.
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The leader has also congratulated Lebanese people "for having expressed ir vote in democratic elections". President Donald Trump is due to decide whether to keep the United States in the Iranian nuclear accord.
Donald Trump holds up a proclamation declaring his intention to withdraw from the JCPOA Iran nuclear agreement after signing it in the Diplomatic Room at the White House in Washington.
Khamenei's official website translates his subsequent comment as "I answer him, as a representative of the Iranian population: 'Donald Trump, you can not lift one finger against us'". "It's in our own security interests".
I hope those negotiations are successful. "And, above all, it works".
Trump announced America's departure from the Joint Comprehensive Plan of Action (JCPOA) at a press conference Tuesday afternoon, during which he called the seven-nation agreement "a great embarrassment to me as a citizen and to all citizens of the United States", while insinuating that Iran has been enriching more uranium than the global pact allowed, despite American intelligence reporting that the Middle Eastern nation had been obeying the terms of the deal.
German Foreign Minister Heiko Maas said the U.S. had offered no alternative solutions before its sudden withdrawal from the worldwide accord. He also encouraged Iran to continue adhering to the agreement. But he left perhaps the most critical question unaddressed: What, precisely, is US policy toward Iran?
Oil prices swing wildly after Trump announces exit from Iran deal
The Turkish president also said Trump should have respected the agreement signed by the previous administration. Ska Keller, co-leader of the Greens/EFA group, said, " Donald Trump's solo run is a unsafe game with fire".
Gregory Gause joined us on First News at Four to help us understand what this action by the President really means.
"Trump will whither away, perish, and his body will decompose: but, the Islamic Republic will still be thriving", Khamenei added. "The American withdrawal from the nuclear deal is a major mistake and has the entire world anxious".
Carl Bildt, former Swedish prime minister, said European businesses would get hit harder by the reinstated sanctions than United States companies.
"I do not trust these three countries", he said, apparently referring to France, Germany and Britain.
Polls close in tight Malaysia vote With Najib's future at stake
Al Jazeera's Florence Looi, reporting from the capital, Kuala Lumpur, said it was the first time voting was held mid-week. All 222 parliamentary seats and 505 state seats across 13 state assemblies will be up for grabs on Wednesday.
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