German FM: EU can compensate for the US withdrawal from the agreement on the Iranian nuclear program

“European countries can compensate the US withdrawal from the agreement on the Iranian nuclear program within their capabilities,” German FM Heiko Maas said.

Report informs citing the RIA Novosti that he spoke during a joint press conference with Iranian counterpart Javad Zarif in Tehran.

"We and other European States are trying to create opportunities to support economic activity in Iran. We have developed a settlement mechanism called INSTAX, it should be operationalized," Maas said.

According to him, the parties discussed the situation around the Joint Comprehensive Action Plan (JCPOA).

"It was unveiled what expected from us. In particular, I announced that we have initiated a settlement mechanism and we are going to operationalize it in the coming weeks. I hope that it will not come to talk about the time after the JCPOA. If all the parties adhere to the agreement, we, within the EU, will make efforts to compensate for the US withdrawal with new initiatives within our capabilities, I hope that the agreement will be preserved as a whole," the head of German diplomacy added.

Earlier, Iranian Foreign Ministry spokesman Abbas Mousavi said that Tehran was not satisfied with the steps taken by Europe in the framework of the "nuclear deal".