EU Says Encouraging Trade With Iran Crucial To JCPOA

The European Union Foreign Policy Chief Federica Mogherini said the EU is encouraging enterprises to increase their business with Iran, as that country has been compliant with their nuclear-related commitments.

Mogherini told reporters Tuesday during her trip to Wellington, New Zealand, that it is up to Europeans to decide whom they want to trade with.

“We are doing our best to keep Iran in the deal, to keep Iran benefiting from the economic benefits that the agreement brings to the people of Iran because we believe this is in the security interests of not only our region, but also of the world. If there is one piece of international agreements on nuclear non-proliferation that is delivering, it has to be maintained,” Mogherini said, AP reported.

She said the EU is encouraging enterprises to increase their business with Iran, as that country has been compliant with their nuclear-related commitments.

The United States reimposed stiff economic sanctions on Iran on Monday, ratcheting up pressure on the Islamic Republic despite statements of deep dismay from European allies, three months after President Donald Trump pulled the US out of the 2015 nuclear deal between Tehran and world powers.

A first set of reimposed US sanctions affect financial transactions that involve US dollars, Iran’s automotive sector, the purchase of commercial planes and metals including gold.

A second batch of US sanctions targeting Iran’s oil sector and central bank are to be reimposed in early November.

Trump warned that those who don’t wind down their economic ties to Iran “risk severe consequences.”