No easy 'plan B' for Iran if nuclear talks with major powers collapse

(Reuters) - Iranian officials say they can turn to Beijing and Moscow if talks in Vienna fail to end Western sanctions, but with oil prices falling, China's economy slowing and Russia in its own sanctions-induced slump, Tehran's "plan B" hardly looks ideal.

Talks between Iran and six powers, which include China andRussia as well as the United States and three big EU countries, are expected to fail to reach a deal to lift U.S. and EU sanctions by a deadline on Monday.

While the deadline, already extended in July, could be extended again, Iranian officials have said they are working on an alternative if the talks collapse altogether, which would see them look east and north for diplomatic and economic support.

"Of course we have a plan B," a senior Iranian official told Reuters. "I cannot reveal more details but we have always had good relations with Russia and China. Naturally, if the nuclear talks fail, we will increase our cooperation with our friends and will provide them more opportunities in Iran's high-potential market."

He added: "We share common views (with Russia and China) on many issues, including Syria and Iraq."

China is the biggest buyer of Iranian oil and one of the few countries to continue absorbing large volumes of Iranian exports without any big decrease since U.S. and EU sanctions were tightened in the past three years. Russia has sold Iran weapons, built anuclear power station and could provide technology.  Read More