Feb 07, 2019 08:45 Asia/Tehran
  • Signed agreement (Joint Comprehensive Plan Of Action) following E3/EU+3 negotiations, 14 July 2015 in Vienna, Austria. Photo via Getty Images
    Signed agreement (Joint Comprehensive Plan Of Action) following E3/EU+3 negotiations, 14 July 2015 in Vienna, Austria. Photo via Getty Images

France asked the remaining signatories of a multinational nuclear deal with Iran to comply with their commitments.

Iran Press/Europe: "Europeans abide by the JCPOA because (1) it is a good agreement, (2) Iran implements it, (3) there is no identifiable alternative to monitor and limit the Iranian nuclear program, (4) it has been endorsed by the UNSC incl. the US, (5) countries should stick to their signature," the French ambassador to the US Gérard Araud tweeted in response to a Wall Street Journal's article.

"The E3 were negotiating with the US a framework to handle these other issues when the US decided to repudiate the JCPOA. We are ready at any moment to resume these discussions while reaffirming our commitment to the JCPOA," Gérard Araud said in another tweet. 

The European Union has repeatedly reiterated its strong determination to preserve the Iran nuclear deal, formally known as the Joint Comprehensive Plan of Action (JCPOA), irrespective of a decision by US President Donald Trump to withdraw from the agreement and reimpose sanctions against the Islamic Republic.

European powers unveil new trade channel with Iran/ Bucharest January 31

Under the landmark accord, Iran had accepted limits on its nuclear programme in exchange for relief from international trade, oil and banking sanctions. 

US President Donald Trump pulled out from the deal on May 8.

Clearing house to bypass US sanctions

A special clearing house designed to allow European companies that trade with Iran to bypass newly reimposed US sanctions is set up in Europe.

The clearing house, known as the Instrument in Support of Trade Exchanges (INSTEX), is seen as critical to reassuring Tehran that the EU genuinely wishes to reward Iran for signing the 2015 deal on its nuclear program by expanding business with the country.

France, Germany and the UK are the initial shareholders of the INSTEX mechanism for trade with Iran, which has been registered in the French capital, Paris, with a capital of 3,000 euros, and will be governed by a German banking expert.

Iran dissatisfies with EU efforts

Iran is unhappy with the efforts shown so far by Germany, France and the United Kingdom to save the 2015 nuclear deal, accusing the European Union trio of taking more political positions than practical steps.

In a meeting with ambassadors and heads of missions of foreign countries to Tehran on Wednesday, president Hassan Rouhani said in spite of America's misconduct and the fact that Europe was very weak and ineffective in fulfilling its obligations, the Islamic Republic of Iran has honored its obligations in full. 101

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Europeans must take steps through their commitments: Zarif