European Union foreign policy chief Josep Borrell said he had proposed a new draft text to revive the 2015 Iran nuclear deal (Joint Comprehensive Plan of Action - ed.), saying there was no room for further serious compromises.

"I have now put on the table a text that addresses, in precise detail, the sanctions lifting as well as the nuclear steps needed to restore the JCPOA," the European Union's Josep Borrell wrote in an essay in the Financial Times. He was referring to the 2015 deal called the Joint Comprehensive Plan of Action.

"After 15 months of intense, constructive negotiations in Vienna and countless interactions with the JCPOA participants and the U.S., I have concluded that the space for additional significant compromises has been exhausted," he added.

Borrell did not give details of his proposal, but he suggested - like many Western officials before - that time was running out to restore a deal that saw Iran curtail its nuclear program in exchange for exemptions from economic sanctions.

US State Department spokesman Ned Price told reporters that Washington was studying the "understanding project" that Borrell shared with Iran and others in the 2015 deal and would respond directly to the EU.

Under the nuclear pact, Tehran has limited its uranium enrichment program in exchange for exemptions from economic sanctions.

In 2018, then-U.S. President Donald Trump backed out of the deal, calling it too soft on Iran.