Iran Press/Europe: The European nations said in a joint statement on Sunday that following renewed sanctions by the United States on Iran, and the country’s decision to reduce commitments to the nuclear accord, officially known as the Joint Comprehensive Plan of Action (JCPOA), it could collapse.
“We believe that the time has come to act responsibly and to look for ways to stop the escalation of tension and resume dialogue,” the joint statement released by the French president’s office said according to Reuters.
On 8 May 2017 US after withdrawing from the 2015 deal, imposed unilateral sanctions against Iran, but EU countries vowed by staging a trade mechanism called INSTEX to secure Iran's basic rights accord in the historical deal but as Iran says E3 can't succeed Iran's interests.
No practical measures have been taken yet towards the launch of the mechanism for trade with Iran called INSTEX.
On May 8, Iran notified its remaining partners in the deal that it would suspend the implementation of some of its commitments as a means of spurring the European side to honor its end of the bargain.
Iranian on Jul 7 announced more reductions in its commitments to the 2015 nuclear deal at the end of the 60-day ultimatum.
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The measure was taken in line with the Islamic Republic’s legal rights under Articles 26 and 36 of the JCPOA.
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