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EU works to save unraveling nuclear agreement with Iran Updated: 2019-07-16 13:02:51 KST

The European Union tried to persuade Iran to change course and return to full compliance of its 2015 nuclear accord.
It tried to avoid the collapse of a deal that had proved effective in keeping Tehran from developing nuclear weapons.
Iran decided recently not to abide by the terms of the deal, increasing its stockpile of enriched uranium as their relationship with Washington deteriorated.

Yet, Spanish Foreign Minister Josep Borrell, who will take over from Federica Mogherini as the EU's foreign policy chief in November, said the deviations are not significant enough to assess that Iran has broken the agreement.
In efforts to save the unraveling agreement, the EU is trying to help the Iranian economy that has been crippled due to U.S. sanctions.
France, Germany and the UK have developed a new financial mechanism called INSTEX to continue trading with Iran and skirt Washington's punitive measures.

"We know that all our activities would probably not compensate or not get to the level of compensation that follows the decision of the United States. Still, our intention is to try to mitigate the impact of the United States' decision to re-impose sanctions and to stop implementing the agreement."

EU nations also blamed the Trump administration for escalating tensions by withdrawing from the deal last year.
China, one of the parties in the deal, also said U.S. pressure was the root cause of recent developments and called on the Trump administration to rectify the situation.
Hong Yoo, Arirang News.
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