EU `Concerned' by U.S. Decision on Iran Oil, Nuclear Waivers

(Bloomberg) -- The European Union, France, Germany and the U.K. expressed concern about the American decision not to extend waivers on oil trade with Iran and not to fully renew waivers for nuclear non-proliferation projects.

“We deeply regret the re-imposition of sanctions by the United States following their withdrawal” from the Iran nuclear deal, called the Joint Comprehensive Plan of Action, the EU’s foreign policy chief and foreign minsters of France, German and the U.K. said in a statement on Saturday.

“The lifting of nuclear-related sanctions is an essential part of the JCPOA -- it aims at having a positive impact not only on trade and economic relations with Iran, but most importantly on the lives of the Iranian people,” according to the statement.

The EU and its three biggest economies said they remained “deeply convinced” that the Iran nuclear deal was key to stability and security in the Middle East, and reaffirmed their commitment to it. They said the accord was working and delivering on its goal, and that Iran was continuing to comply.

“We encourage all countries, including Russia and China as JCPOA participants, to make their best efforts to pursue the legitimate trade that the agreement allows for, through concrete steps,” they added.

The administration of U.S. President Donald Trump plans to renew five waivers that allow Iran to keep operating a limited civilian nuclear program, while two others will be revoked, Assistant Secretary of State Christopher Ford said on Friday. The five will be extended for 90 days, rather than 180 days.

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