As had been previously reported, the European Commission on Friday enacted their "blocking statute," which would forbid EU-based companies from complying with US sanctions against Iran. The statute also means EU courts will not recognize international claims related to those sanctions.
The commission aims to set the statute back into effect, but it won't be formally done until at least 60 days from now. The US withdrawal from the Iran nuclear deal has a 90-day wind-down period, so theoretically there should be nothing to block until early August at any rate.
EU officials have been negotiating the matter all week, as an attempt to try to save the P5+1 nuclear deal with Iran after the US withdrew, and started reimplementing sanctions. EU leaders have agreed that the entire union will work together in protecting the deal.