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    EU adopts measures to support Iran’s economy

    © Belga
    © Belga

    The European Commission has adopted a first series of projects to the sum of 18 million euros “to support sustainable economic and social development” in Iran as it reels from the reimposition of U.S, sanctions. After its unilateral withdrawal from the 2015 nuclear accord between Tehran and the big powers, Washington slapped a first series of sanctions on Iran on 6 August, issued a warning to countries that continue to trade with the Islamic Republic, and gave businesses 90 to 180 days to pull out of Iran.

    These sanctions have had a major impact on Iran’s economy but the Commission, which had opposed the U.S. move, on Thursday validated the 18-billion-euro aid to support economic and social development in the West Asian country.

    “Since the renewal of the EU-Iran relations as a result of the Iran nuclear deal, cooperation has developed in many sectors,” European Union (EU) High Representative Federica Mogherini, said. “We are committed to sustain it and this new package will widen economic and sectoral relations in areas that are of direct benefit to our citizens.”

    The aid will include eight million euros in technical assistance to face up to the challenges related to the environment and two million euros in aid to prevent and reduce problems caused by drug abuse.

    Jason Bennett
    The Brussels Times