European Union’s updated Blocking Statute enters into force on Tuesday , 7 August, to protect European companies doing business with Iran from secondary extra-territorial U.S. sanctions, according to a joint statement issued by European guarantors of the nuclear deal ( JCPOA ) on Monday.

IranPress- In a joint statement, the European guarantors of the Iran nuclear accord, including EU foreign policy chief Federica Mogherini and foreign ministers of E3, Jean-Yves Le Drian of France, Heiko Maas of Germany, Jeremy Hunt of the UK, expressed deep regret over the re-imposition of sanctions by the US, and stressed their firm resolve to keep financial channels with Iran open.

“The JCPOA is working and delivering on its goal, namely to ensure that the Iranian programme remains exclusively peaceful, as confirmed by the International Atomic Energy Agency (IAEA) in 11 consecutive reports,” reads the statement. “It is a key element of the global nuclear non-proliferation architecture, crucial for the security of Europe, the region, and the entire world.”, MNA reported.

“The lifting of nuclear-related sanctions is an essential part of the deal – it aims at having a positive impact not only on trade and economic relations with Iran, but most importantly on the lives of the Iranian people,” the statement continues.

The European guarantors of JCPOA also voiced resolve to “protect European economic operators engaged in legitimate business with Iran, in accordance with EU law and with UN Security Council resolution 2231.”

“The remaining parties to the JCPOA have committed to work on, inter alia, the preservation and maintenance of effective financial channels with Iran, and the continuation of Iran’s export of oil and gas. On these, as on other topics, our work continues, including with third countries interested in supporting the JCPOA and maintaining economic relations with Iran. These efforts will be intensified and reviewed at Ministerial level in the coming weeks,” reads the statement.

“Preserving the nuclear deal with Iran is a matter of respecting international agreements and a matter of international security,” the statement concludes.

Earlier this month, EU and China reaffirm their commitment to JCPOA and economic and trade engagement with Iran

On the sidelines of Asean Foreign Ministers' Meeting in Singapore, China’s Foreign Minister Wang Yi met with his counterpart Federica Mogherini, the highest representative of the EU for foreign affairs and security policy, to reaffirm their commitment to multilateralism and free trade as well as Iran nuclear deal.  

China’s foreign ministry said that besides discussing trade, Wang and Mogherini also agreed to continue maintaining and implementing the 2015 Iran nuclear deal, which the US unilaterally withdrew from it in May. The two leaders said they agreed to strengthen cooperation and oppose unilateral sanctions, a reference to Washington’s decision to reimpose oil sanctions against Iran after Trump pulled out of the landmark agreement.

On May 8, US President Donald Trump pulled the US out of the JCPOA, which drew harsh criticism from the international community and other signatories to the agreement.

Video from RT

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