European and Asian leaders at the end of the Asia–Europe Meeting (ASEM) declared their "collective support" for Iran nuclear deal and stressed that lifting of the sanctions against Tehran is an essential part of the deal.

Iran Press/Iran news: European and Asian leaders in a joint statement at the end of two-day meeting in Brussels on Friday, reiterated their collective support for diplomatic dialogue and the nuclear agreement, known as the Joint Comprehensive Plan of Action (JCPOA), which has been endorsed by the United Nations Security Council resolution  2231.

They emphasized that the JCPOA ensures the exclusively peaceful nature of Iran’s nuclear program, according to a Press TV report.

The joint statement read: "Leaders recognized Iran’s full and effective commitments to the nuclear deal and lifting of sanctions as an essential part of the JCPOA."

European Union and Asian leaders at ASEM summit in Brussels on October 19, 2018

It added that preserving the JCPOA "is a matter of respecting international agreements, and promoting international security, peace and stability."

Last week French President Emmanuel Macron stressed that exiting the Joint Comprehensive Plan of Action (JCPOA) would be catastrophic.

The JCPOA had been signed between Iran and the five permanent members of the UN Security Council -- the United States, Britain, France, Russia and China -- plus Germany in 2015.

US President Donald Trump announced in May that Washington was pulling out of the nuclear agreement, which lifted nuclear-related sanctions against Tehran in exchange for restrictions on Tehran's nuclear program.

Related News: Trump announces 'withdrawal' from Iran nuclear deal

A first round of American sanctions took effect in August and second round, forthcoming on November 4, will be targeting Iran's energy sector and financial transactions.

Speaking upon her arrival to the Asia-Europe Meeting in Brussels, European Union foreign policy chief Federica Mogherini said on Thursday that EU is working to set up financial channels to preserve business with Iran.

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European Union and Asian leaders at ASEM summit in Brussels on October 19, 2018