- European leaders has said that EU will remain committed to the Iran nuclear deal.But has also said that they have rejected the ultimatum given by Iran to prevent its collapse.
- EU has also said that it will continue pursuing efforts to enable the continuation of legitimate trade with Iran.
- Earlier,Iran had said that it will resume high level uranium enrichment if the remaining signatories -Britain, France, Germany, China and Russia – did not make commitments to shield its oil and banking sectors in the next 60 days and opposed the sanctions.
- Those efforts include a special purpose vehicle that would essentially allow goods to be bartered between Iranian and foreign companies without direct financial transactions. However, this mechanism known as Instex is not yet operational.
- Iran Nuclear deal which is known as the Joint Comprehensive Plan of Action (JCPOA) was announced in 2015.The deal was signed between Iran and the P5+1 group (US,UK, France, Russia, China and Germany). It restricts Iran’s nuclear programme in return for lifting most economic sanctions against it.
- USA had withdrawn from the deal in 2018 citing the following reasons:(a)The JCPOA failed to deal with the threat of Iran’s missile programme and (b)The deal does not include strong mechanisms for inspections and verification.
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