TEHRAN, Aug. 19 (Xinhua) -- Iranian Foreign Ministry Spokesman Abbas Mousavi said on Monday that Iran is planning a next step to reduce its nuclear commitments in case parties to the 2015 nuclear deal fail to live up to their obligations to secure Iran's interests subject to the accord.

"Up to now, consultations on the implementation of the European commitments have failed," Mousavi was quoted as saying by Tasnim news agency.

"Efforts are underway, of course. (French President Emmanuel) Macron is making efforts," he said, adding that Iran is waiting for the possible outcome of diplomatic efforts before its deadline for the Europeans ends.

"The third step is being planned proportionate to the actions of the other side," he said.

Following U.S. President Donald Trump's pullout from the nuclear deal, or the Joint Comprehensive Plan of Action (JCPOA) in May 2018 and re-imposition of sanctions, Iran's oil exports have seen a sharp decline.

Besides, Iran has withdrawn from parts of its obligations under the deal in two intervals recently after Trump pulled Washington out of the JCPOA.

Iran has urged implementation of the landmark deal which stipulates Iranian rights of oil exports and free banking ties with the world.

To secure trade with Iran and skirt U.S. anti-Iran sanctions, the European Union has announced the launch of EU's special payment channel with Iran, namely INSTEX, in January.

However, Tehran said that the EU mechanism lacks feasibility in supplying Iran with petrodollars.