European top diplomats on May 15 agreed to follow through the landmark Iran nuclear deal.
This comes after the U.S. President Donald Trump's decided to withdrew from 2015 Iran Nuclear Deal.
The EU will launch intensive discussion at all levels with Iran in next few weeks, as per Xinhua.
One of the crucial points of discussion will be about how to maintain economic relations and effective banking transactions with Iran in the context of renewed U.S sanctions, according to European Union (EU) foreign policy chief Federica Mogherini.
"We reaffirm our resolve to continue to implement the nuclear deal in all its part, in good faith, and in a constructive atmosphere," said Mogherini, as quoted by Xinhau.
Iranian Foreign Minister Mohammad Javad Zarif is in Brussels for his diplomatic tour to save the 2015 nuclear deal.
According to the International Atomic Energy Agency (IAEA) in Vienna, Iran has so far complied with all of the conditions established under the nuclear deal.
On May 9, President Trump announced the US withdrawal from the Joint Comprehensive Plan of Action (JCPOA) or the Iran nuclear deal which limited the country's uranium enrichment in exchange for sanctions relief.
Calling the accord as an "embarrassment" that was "defective at its core", he also warned of severe consequences if Iran resumes its nuclear programme.
The Iran nuclear deal was signed between six countries in 2015 - Iran, US, Britain, Germany, Russia, France and China for lifting economic sanctions on Tehran in exchange for limitations to the country's nuclear programme.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
