The European Union has said it has plans to protect the region’s companies if U.S. President Donald Trump pulls out of the 2015 nuclear deal, officially called the JCPOA.

“We are working on plans to protect the interests of European companies,” Bloomberg quoted Maja Kocijancic, EU spokeswoman for foreign affairs, as telling reporters in Brussels on Tuesday.

She also said, “The agreement is very important for global security.” 

“The JCPOA is not based on assumptions of good faith or trust,” Kocijancic said. “It’s based on facts, on concrete commitments, on verification mechanisms, on very strict monitoring.”

Trump was scheduled to decide on Tuesday whether to stay in the multilateral nuclear agreement or not.

Iran, the five permanent members of the UN Security Council - the U.S., UK, France, Russia, and China - Germany and the European Union struck the nuclear deal in July 2015. The deal took effect in January 2016.

NA/PA