REVIEW - Iran Nuclear Deal Tops Agenda Of EU Foreign Affairs Council Meeting

BRUSSELS (UrduPoint News / Sputnik - 16th July, 2019) A discussion of the Joint Comprehensive Plan of Action (JCPOA), also known as the Iran nuclear deal, dominated a meeting of the European Union's Foreign Affairs Council that took place in Brussels on Monday.

The results of the meeting were summarized at by EU foreign policy chief Federica Mogherini at a press conference.

INSTEX is a mechanism created by the European Union to facilitate trade with Iran amid wide-ranging sanctions that the United States imposed on Tehran after unilaterally withdrawing from the JCPOA last year. The European Union said last month that INSTEX was now operational and that its first transactions were being processed. The mechanism is available to all EU members and will soon be accessible to economic operators from other countries.

When asked whether the INSTEX instrument would cover oil trade, Mogherini said it was a matter of discussion among shareholders. Sales of oil and natural gas make up roughly 80 percent of Iran's exports.

In May, Tehran announced its decision to partially suspend its obligations under the nuclear accord, giving the other signatories � France, Germany, the United Kingdom, Russia, China and the European Union � 60 days to save the deal by facilitating oil exports and trade with Iran. As the deadline expired, Iran said it would begin enriching uranium beyond the 3.67 percent level, set in the JCPOA, warning to gradually abandon its nuclear commitments every 60 days.

Commenting on the issue, the EU foreign policy chief stressed the Joint Commission might hold a meeting but the date was yet to be defined.

"Article 36 of the [JCPOA] Agreement - it is the mechanism that is foreseen in the Agreement, in case of significant non-compliance. For the time being, none of the parties to the Agreement have signaled their intention to invoke this article," she said.

Mogherini expressed regret over Iran's decision to reduce its commitments under the agreement but underlined that all the steps that had been taken by Tehran were "technically reversible."

Speaking about the EU-Moldova relations, Mogherini said the foreign ministers listened to their colleague from Moldova's new government. She confirmed an announcement on restoring the European Union's macro-financial assistance to Moldova.

As for the EU policy on migration, Mogherini pointed at the "positive convergence" of EU member states to tackle the issue more effectively. She said the bloc had about 209 projects in place, worth a total of 4 billion Euros ($4.5 billion) for countries of transit and origin. It has allowed the EU to lower the number of irregular arrivals, according to the EU diplomacy chief.

Mogherini also spoke about her recent visit to the Central African Republic, adding that she proposed to the EU foreign ministers to increase the bloc's cooperation with the country following the signing of a peace and reconciliation agreement between the Central African government and armed groups in early February.