Iranian Supreme Leader Ali Khamenei and US President Donald Trump: bitter rivals. Photo: Reuters

European officials are expressing concern that Western banks and investors will stay away from Iran as the Trump administration reviews the nuclear deal reached with Iran. The Wall Street Journal reports that officials are concerned about the lack of clear timeline for review, which they understood would be over in July, but now appears set to drag on.

The opening of the Iranian market to outside investment is seen as an important incentive for compliance.

“I’m not even sure who will be allowed to contribute to the decision,” said one senior European official. Another said they have received no assurances that they would be alerted before a decision is made.

The concerns regarding the US commitment to the Iran deal come as European leaders are still fuming at the Trump administration’s decision to exit the Paris climate accord as well as trade challenges.