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- Iran President has said that Iran has decided to maintain its scale back of the landmark 2015 nuclear deal unless other signatories show positive signals.
- Iran had stopped complying with some commitments in the 2015 nuclear deal after the United States had unilaterally withdrew from the accord in 2018 and renewed sanctions on Iran.
- Further,Europe has launched the Instrument in Support of Trade Exchanges(INSTEX) to offer EU companies to trade with Iran totally outside of the US banking system in order to avoid sanctions.
- However,the US has made it clear that firms can choose to trade with Iran or the US but not both.
- Iran Nuclear deal which is known as the Joint Comprehensive Plan of Action (JCPOA) was announced in 2015.
- The deal was signed between Iran and the P5+1 group (US,UK, France, Russia, China and Germany).It restricts Iran’s nuclear programme in return for lifting most economic sanctions against it.
