President Donald Trump last week announced the US withdrawal from the Joint Comprehensive Plan of Action (JCPOA), also known as the Iran nuclear agreement. The US Treasury Department immediately after the decision began reimposing sanctions on Iran.
"We would have to consider how to address the negative impacts of any primary or secondary sanctions which may be reintroduced by the United States that would affect European firms," O’Sullivan said.
O’Sullivan promised the EU will work on options to protect its economic interests against US extraterritorial sanctions. He also said the EU is going to follow its commitments under the JCPOA.
Europeans do not see a credible substitute for the JCPOA, he added, which is vital to global and European security. The EU Ambassador also said the United States did not provide any alternative for this agreement.
The JCPOA, signed by Iran, the P5+1 and EU in 2015, requires Tehran to maintain a peaceful nuclear program in exchange for sanctions relief. Iran has been in full compliance with the terms of the JCPOA as verified in 11 International Atomic Energy Agency (IAEA) inspection reports released since the deal’s inception.