The European Union(EU) has vowed to continue its "critical engagement" policy towards North Korea following the North's recent decision to hold summits with South Korea and the U.S.

The EU's foreign policy chief, Federica Mogherini made the comment on Tuesday in a speech at the European Parliament in Strasbourg, France.   

Mogherini said that the EU's critical engagement policy is more valid than ever, adding it will maintain the policy of maximum pressure and dialogue in order to prevent a possible war and resolve the North Korean nuclear issue. 

The EU official said that news coming from the Far East following the PyeongChang Winter Olympics is giving hope, assessing that the situation on the Korean Peninsula is shifting from a possible disaster to proving the power of diplomacy.