Iran is negotiating $80b of oil deals for signing, some of which are expected to be finalized no later than June, Iran Daily reported.

According to Press TV, top negotiator Abbas Araqchi shrugged off concerns about the new US president’s commitment to a landmark nuclear accord with Iran, which has been hampering foreign investors from clinching deals with Tehran.

President Donald Trump has denounced the Joint Comprehensive Plan of Action (JCPOA), as the agreement is called, as “the worst deal ever negotiated,” pledging during his election campaign to tear it up.

Araqchi said: “If Trump rips up the JCPOA, he will have to suffer the costs. In that case, we will have to move cleverly and dexterously so that the costs don’t befall us.”

The official, who is also Iran’s Deputy Foreign Minister, said Trump was currently examining the accord but there were signs that he would stick with it.

“At the moment, the consensus is against Trump and he has no other choice than extending the JCPOA,” Araqchi added.