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EU lawmakers approve plan for European Investment Bank work in Iran

EU lawmakers' decision does not oblige the EIB to work with Iran, a move that could jeopardise its ability to raise money on US markets and so have far-reaching consequences for its operations

Reuters  |  Brussels 

EU lawmakers gave approval on Wednesday for the European Investment Bank (EIB) to do business in Iran, overcoming a blocking attempt and keeping alive plans to save the 2015 nuclear deal with Tehran that Washington has abandoned. The EIB, the European Union's not-for-profit long-term investment arm, is a key pillar of the bloc's attempts to maintain business links with Iran in the face of Washington's decision to re-impose sanctions on the Islamic Republic. However, the EU lawmakers' decision does not oblige the EIB to work with Iran, a move that could jeopardise ...

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First Published: Thu, July 05 2018. 10:11 IST
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