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Consequences of US exit from JCPOA

(From R to L) Britain's Foreign Secretary Boris Johnson, German Foreign Minister Heiko Maas, French Foreign Minister Jean-Yves Le Drian and EU High Representative for Foreign Affairs Federica Mogherini take part in meeting with Iran's Foreign Minister Mohammad Javad Zarif in Brussels, Belgium, May 15, 2018. (Photo by Reuter)

Following the US exit from the Iran deal, the EU felt a kind of humiliation as it kind of felt that its sovereignty and independence is being questioned by the US's egocentric behaviors in dealing with international agreements. As a result, it took action by reactivating the same blocking statute of 1996.

Soon after Trump pulled the US out of the Iran deal major EU companies such as Total and Siemens announced that they will not continue their cooperation with Iran. Iran on the other hand announced that it will leave the deal immediately and take commensurate actions to respond the US's withdrawal of the deal if its economic benefits are taken away from Iran.

The EU held a meeting on May 16th and let the world know that it will not allow the US sanctions to harm the companies which are sanctioned for cooperation with Iran. Despite all these, Iranian officials have stated that words are not enough and they need to see everything in practice. 

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