Categories: Foreign

EU approves $20.6m development aid for Iran

European Union on Thursday approved 20.6 million dollars in aid for Iran on Thursday, including for the private sector, to help offset the impact of U.S. sanctions and salvage a 2015 deal that saw Tehran limit its nuclear ambitions.
The announcement is part of the bloc’s high-profile efforts to support the nuclear accord that President Donald
Trump abandoned in May.

It is part of a wider package of 50 million euros earmarked for Iran in the EU budget.
The EU is working to maintain trade with Iran, which has threatened to stop complying with the nuclear agreement if it fails to see the economic benefits of relief from sanctions.

The bloc’s foreign policy chief Federica Mogherini said in a statement the bloc was committed to cooperation with Iran.
“This new package will widen economic and sectoral relations in areas that are of direct benefit to our citizens,” she said.
The bloc will spend eight million euros on the Islamic Republic’s private sector, including assistance for small and medium-sized enterprises and Iran’s Trade Promotion Organisation.

A further eight million euros will go to environmental projects and two million euros to fighting harm caused by drugs.
The projects will be implemented by the International Trade Centre, EU Member State agencies, and other organisations in close cooperation with Iranian counterparts.

EU approves $20.6m development aid for Iran was last modified: August 23rd, 2018 by Francis Belux
Francis Belux

Share
Published by
Francis Belux
Tags: EUiran

Recent Posts

JUST IN: Igbo leaders endorsement of Atiku is “Nothing” – Buhari

Nigeria's President, Muhammadu Buhari has dismissed the endorsement of the presidential candidate of the Peoples Democratic Party, PDP, Atiku Abubakar…

1 min ago

Kwara Bye-Elections: Lai Mohammed casts his Vote (PHOTOS)

Minister of Information and Culture, Alhaji Lai Mohammed, votes in his town, Oro, during today's by-election into the vacant House…

48 mins ago

2019: Fulanis Dump APC, announce support for PDP (REASONS)

The gubernatorial ambition of the Peoples Democratic Party (PDP) has received a boost as the Fulanis, one of the dominant…

54 mins ago

Kwara Bye-Elections (LIVE UPDATES)

The Independent National Electoral Commission (INEC) has said that only five political parties will participate in the Saturday bye-election for…

1 hour ago

JUST IN: PDP will not rule Nigeria – Buhari (REASONS)

President Muhammadu Buhari has again faulted the Peoples Democratic Party (PDP) for allegedly mismanaging the nation’s resources. He stated this…

1 hour ago

Ohanaeze’s endorsement of Atiku all chaff, no substance – President Buhari

President Muhammadu Buhari has revealed that many well-meaning Igbo leaders asked him to ignore the so-called endorsement by Ohanaeze Ndigbo…

3 hours ago