On Friday, the European and Asian leaders reiterated their support for lifting the sanctions from Iran as Iran is fully and effectively implementing the nuclear deal commitments and the agreement is promoting international peace, security and stability.
The joint statement issued at the end of the two day Asia-Europe meeting in Brussels said, “Leaders recognized that, alongside full and effective implementation by Iran of its nuclear related commitments, the lifting of sanctions including the consequences arising from it constitutes an essential part of the JCPOA”.
It said, “Preserving the nuclear accord is a matter of respecting international agreements, and promoting international security, peace and stability”.
On Thursday, before the meeting in Brussels European Union foreign policy chief Federica Mogherini said that EU is “now working on the concrete establishment of” the new payment system so that European countries can continue to trade and business with Iran.
— European External Action Service – EEAS 🇪🇺 (@eu_eeas) October 18, 2018
She said, “This is something that we have presented during the UN General Assembly ministerial week in New York. The Member States of the European Union have decided to put this system in place, so they are now working on the concrete establishment of this. I am confident that they will continue this work in a successful manner in the coming weeks”.
US President Donald Trump pulled out of Iran Nuclear deal on May 8, 2018 and announced to re-impose sanctions on Iran. The first phase of sanctions was in effect from August 6 and the second phase sanctions targeting Iran’s oil and gas sector and its Central bank will be in effect from November 8, 2018.
President Trump has vowed to bring down the oil export of Iran to zero and threatened to sanction the countries and firms that will continue to trade with Iran.