The E.U. has urged Iran to respect the 2015 nuclear deal, saying it aims to continue trading with the country despite U.S. sanctions.
The Trump administration pulled America out of the 2015 deal a year ago, saying it does nothing to stop Iran from developing missiles or destabilizing the Middle East. The Europeans insist that the pact is an important pillar of regional and global security and was never meant to address those other issues.— already laboring under economic hardship — from the sanctions imposed by President Donald Trump.The E.U. powers say they"regret the re-imposition of sanctions" by the U.S.
The Europeans have set up a complicated barter-type system to skirt direct financial transactions with Iran and so evade possible U.S. sanctions. The workaround, dubbed INSTEX, is not yet operational as Iran has not completed its part of the scheme. The bloc said it plans to push ahead with"the operationalization of the special purpose vehicle 'INSTEX'."
The E.U. has also introduced a so-called"blocking statute" protecting European companies from the effects of U.S. sanctions, but many international corporations do more business in the United States than in Iran and have already severed ties there
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