ECONOMY

EU regrets US move to end sanctions waivers on Iran oil imports

The European Union on Tuesday regretted the U.S. move to end sanctions waivers on Iran oil imports. Speaking at a media briefing, Maja Kocijancic, the EU Foreign Affairs and Security Policy spokeswoman said, the EU will continue to implement the nuclear agreement. Last November, U.S. President Donald Trump's administration re-imposed sanctions on Iranian oil exports after Washington pulled out of the 2015 Iran nuclear deal including five other countries.

The European Union is criticizing the U.S. decision to impose sanctions on countries that buy Iranian oil and warns that the move could damage an international effort to stop Iran developing nuclear weapons.

European Commission spokeswoman Maja Kocijancic expressed "regret" Tuesday over the U.S. decision and that it "risks further undermining" the Iran nuclear deal.

U.S. President Donald Trump pulled out of that pact last year, saying it does nothing to stop Tehran developing missiles or destabilizing the Middle East.

Since then, the EU has put measures in place to side-step U.S. sanctions on Iran, including a way to keep financial supply lines to Tehran open and protect European businesses operating there.

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