European Union to Create Channel to Facilitate Business With Iran

New York: The European Union (EU) will create a special entity to facilitate business with Iran and avoid the sanctions imposed by the US after its exit from the nuclear agreement with Tehran. The EU High Representative for Foreign Affairs and Security Federica Mogherini announced the development here on Monday after a meeting between Iran and the five powers that continue to support the pact, Russia, China, France, the UK and Germany, reports Efe news. The Foreign Ministers of the remaining countries and Iran reiterated their willingness to continue implementing the agreement at the meeting, despite the US withdrawal.

In a joint statement read by Mogherini and Iranian Foreign Minister Mohammad Javad Zarif, the participating parties recalled that Tehran has shown that it continues to fulfill its part of the nuclear agreement. The five powers also pledged its commitment to promote “legitimate business” with Iran, as had been set in the pact and discussed “practical solutions” to the unilateral withdrawal of the US and its reimposition of sanctions that had been lifted with the agreement sealed in 2015. (IANS)