European Union to create channel to facilitate business with Iran

European Union to create channel to facilitate business with Iran

European Union to create channel to facilitate business with Iran

"These sanctions will be effective, they are effective, and come November 4, they'll be even more effective", Pompeo said.

The statement said that the participants also "welcomed the fact that updates to the EU's "Blocking Statute" and the European Investment Bank's external lending mandate to make Iran eligible entered into force on 7 August".

However, the sanctions are not endorsed by the United Nations and it has been a traditional policy of India to enforce only UNSC-authorised sanctions.

"What will bring a real solution to the situation in Iran and what has already stabilized it?" India and the U.S. are now in talks on this issue.

Further US measures targeting Iran's oil exports are set to be imposed on 5 November.

"This is one of the most counterproductive measures imaginable for regional and global peace and security", Pompeo told the United Against a Nuclear Iran group, accusing the European Union of "solidifying Iran's ranking as the No. 1 state sponsor of terror".

President Hassan Rouhani said that Iran was not seeking conflict with the United States in the Middle East and questioned why USA forces remained in the region.

EU High Representative for Foreign Affairs and Security Policy Federica Mogherini told reporters after the closed-door ministerial meeting that the financial facility is also aimed at preserving the nuclear agreement.

"This terrible, one-sided deal allowed Iran to continue its path towards a bomb and gave the regime a cash lifeline when they needed it the most".

Since then, the Trump administration has slapped a number of sanctions on Iran while vowing to apply more.

The Belgian premier, for his part, emphasized on his country's determination to expand and deepen relations with Iran, and said Belgium is "a supporter of multilateralism" and does not hesitate to try to save the JCPOA.

Earlier, the European Union also promised to protect firms against the impact of USA sanctions for doing business with Iran.

Earlier that day, Mr. Trump had told the U.N. General Assembly that "Iran's leaders sow chaos, death and destruction". They are making those decisions based on what makes business sense. After the 2015 nuclear deal, it was reconnected, but European officials have said they expect the United States to apply pressure on SWIFT to once again cut Iran off.

"There is more daylight between the European companies and the EU than that in between the USA and our European allies", Mr Hook added. "We do not intend to allow our sanctions to be evaded by Europe or anybody else", Bolton said.

Mogherini said the bloc will finalize and implement "operational solutions" for trade issues that emerged after the unilateral withdrawal of the U.S. from the 2015 agreement and the re-imposition of the sanctions lifted under the JCPOA.

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