TEHRAN -- Iran and the European Union are working to finalize a mechanism to guarantee trade cooperation despite the US pressures to abort the attempts, an Iranian spokesman said Monday.

Iran and the EU have neared an understanding following intensive negotiations, Bahram Qasemi, spokesman of the Iranian Foreign Ministry, said at his weekly press briefing.

The United States attempts to abort Iran-EU engagement will fail virtually, Qasemi stressed.

On Saturday, Iranian Foreign Minister Mohammad Javad Zarif said the central banks of seven European states are ready to work with Iran amid the US new sanctions expected to take affect on Nov 4.

The Europeans have made extensive efforts to save the 2015 nuclear deal over the past few months, Zarif said.

After the US withdrawal from the Iranian nuclear deal in May, the remaining parties, including the EU, have been trying to keep the deal afloat.

US President Donald Trump has vowed to re-impose oil and banking sanctions on Iran, which were lifted under the 2015 international nuclear deal.