The United Kingdom and European Union have signed a statement agreement regarding Iran. The purpose is to work together to block the impact of U.S. President Donald Trump’s sanctions.
Protecting the Iranian Economy
The U.K. and the E.U. have issued a joint statement in which they promised to block the economic impact of Donald Trump’s newly implemented sanctions against Iran.
Foreign secretary Jeremy Hunt signed the statement with other foreign ministers from E.U. member countries. Their strategy was to make sure there will be protection in place for European companies that choose to continue doing business with Iran.
The participating ministers have agreed to put a “blocking statute” into place. This will ban European countries from complying with Trump’s sanctions. Those penalties were put back into place by the U.S. president at the start of this week.
The Joint Comprehensive Plan of Action
Trump chose to put the Iranian sanctions back into place after having backed out of the 2015 Iran nuclear deal. That agreement had been negotiated by former President Barack Obama.
The foreign ministers from the E.U. member countries stated that removing the Western sanctions was “essential to the agreement. The official name of the deal is the Joint Comprehensive Plan of Action (JCPOA). The JCPOA is an agreement in which Iran has agreed to cease its pursuit of nuclear weapon development.
Hunt added his signature to the most recent statement, joining the E.U. High Representative Federica Mogherini. Furthermore, foreign ministers Heico Maas from Germany and Jean-Yves Le Drian from France also signed.
“Deeply Regret” Trump’s Choice
The foreign ministers stated that they “deeply regret” the U.S. president’s choice to put the Iranian sanctions back into place. Additionally, they pointed to eleven consecutive International Atomic Energy Agency reports in which the results showed the JCPOA “is working”.
“It is a key element of the global nuclear non-proliferation architecture, crucial for the security of Europe, the region, and the entire world. We expect Iran to continue to fully implement all its nuclear commitments under the JCPOA,” read the joint statement signed by the U.K. and E.U.
Moreover, it stated that lifting the sanctions is “an essential part of the deal,” which seeks to achieve positive outcomes. By eliminating the sanctions as long as Iran complies with the agreement, it promotes improved economic relations and trade with the country while improving the quality of life there.
“We are determined to protect European economic operators engaged in legitimate business with Iran,” it said.