(Reuters] – A last-ditch effort by the European Union to rescue the Iran nuclear deal is underway, according to the Financial Times.

The EU’s foreign policy chief Josep Borrell told the Financial Times that he was seeking a “middle way” to end the impasse, which threatens to scupper more than a year of European diplomatic efforts to seal a deal.

According to the FT report, the deal would see the United States rejoin the 2015 agreement and remove sanctions against Iran. The Islamic Republic would then drastically decrease its nuclear activity in return.