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With American firms prohibited from working in Iran and European businesses will be the biggest loser fro US sanctions on Iran's market, while Chinese companies can fill the void and reap the benefits, according to analysts.

Iranian Minister of Economy said based on a MoU which was signed between Iran and China, two countries' national currencies will be used in trade exchanges.

A bank in Ireland has been ordered to pay €20,000 to an Iranian couple in business here over demanding that they not transfer any funds to bank accounts in their native country.

Six big European refineries are cutting their Iranian oil imports due to Trump's withdrawal from nuclear deal last month.

The Ministers of Foreign Affairs, as well as of the economy and finance of France, Germany, Great Britain and the High Representative for Foreign Policy decided [in a letter] to make joint requests to their American counterparts to exempt European companies from extraterritorial secondary sanctions of U.S. against Iran.

Iran’s crude oil exports hit 2.7 million bpd in May, higher than its average volumes over the past year, while the US withdrew last month from the Iran nuclear deal and re-imposed sanctions that would kick in later this year.

The European Investment Bank has refuted an EU proposal to work in Iran to contribute offset U.S. sanctions and save the 2015 nuclear deal, EU sources told Reuters, under pressure from the United States - where the bank raises much of its funds.

PSA Group, the maker of Peugeot and Citroen cars, has suspended its activity in Iran's market due to the U.S. withdrawal from nuclear deal.

The White House said Trump made a call British Prime Minister about new Iranian nuclear deal.

Iran is going to expand its interests in Iraq by swapping oil amid growing pressure from U.S.A.