Iran and world powers can still clinch a deal to revive their 2015 nuclear accord after the election victory of Ebrahim Raisi but time is running out, the European Unions foreign policy chief said on Sunday. Josep Borrell said an agreement was "very close", and could make the Middle East safer and bring relief to millions of Iranians hit by oil and financial sanctions which the United States reimposed when it left the deal three years ago. "On these negotiations, we are running out of time," Borrell told a group of journalists in Beirut. "We have invested a lot of political capital ... so I hope that the result of the elections is not going to be the last obstacle that will ruin the negotiation process," he said. "As far as I know... this is not going to be the case." Iran and six world powers have adjourned nuclear talks for consultations in their capitals, the European Unions envoy to the negotiations said on Sunday. Speaking to reporters Enrique Mora gave no indication when the talks would resume, but said progress had been made and that the participants would have a clearer idea of how to close a deal when they return. He added that he expected the international nuclear watchdog and Tehran to reach an agreement on extending a monitoring deal of Irans nuclear activities that ends on June 24. Russias envoy Mikhael Ulyanov told reporters nobody knew when the talks would resume.