As Iran threatens to scale back on its compliance with the nuclear deal (JCPOA), Federica Mogherini, the head of EU foreign policy announced that Europe and the rest of the world insist on Iran remaining in the JCPOA.

On Wednesday, June 26, in a press conference, Mogherini that the Instrument in Support of Trade Exchanges (INSTEX) is ready to operate and hopefully this would help Iran remain loyal to the JCPOA>

The Instrument in Support of Trade Exchanges has been designed by three European countries for trade with Iran in response to the U.S sanctions against Iran. She did not clarify when it would become operational.

Iran has been criticizing European countries for delaying the INSTEX.

Mohammad Javad Zarif, the foreign minister of Iran has described INSTEX as a “prerequisite for the rest of Europe’s commitments, and regarding its delay, Zarif had said that Europe “either doesn’t want to or cannot” go against its biggest economic partner.

According to Iranian officials, the second step in scaling back compliance with the JCPOA will start in a few days.

In response to the rising tensions between Iran and the United States, Mogherini called for calm and peace.