Iran will adhere to nuclear agreement if EU compensates for US sanctions

Iran promised to adhere to the nuclear agreement if the European Union can compensate for the renewed US sanctions, high-ranking officials in Tehran said. After the recent withdrawal of the US from the nuclear agreement, the EU doubled its efforts to save the deal in 2015 and sent a European Commissioner for Energy, Miguel Arias Canete, to Tehran with a plan to prevent Iran's economic isolation. To save the Iranian economy bypassing the global financial system controlled by the US, the EU will have to continue buying oil and gas from Iran and protect European companies from US sanctions. The head of the European Commission, Jean-Claude Juncker, said that to protect European companies, “the process of applying the “blocking law” from 1996 will be launched” for the first time in more than two decades.

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