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European Commission acts to preserve Iran Nuclear Deal

Jaclyn Jaeger | May 18, 2018

The European Commission on May 18 announced steps to preserve the interests of European companies investing in Iran and to demonstrate the EU’s commitment to the Iran nuclear deal.

On May 8, U.S. President Donald Trump issued a Presidential Memorandum ceasing U.S. participation in the Iran Nuclear Deal (the Joint Comprehensive Plan of Action), emboldening the European Union to preserve its stance in the deal. “As long as the Iranians respect their commitments, the EU will of course stick to the agreement of which it was an architect,” said European Commission President Jean-Claude Juncker. “But the American sanctions will not be without effect, so we have the duty—the Commission and the European Union—to do what we can to protect our European businesses.”

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