22:38 GMT +320 February 2019
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    European Union's Foreign Policy Chief Federica Mogherini

    EU Encouraging Business, Banks to Boost Cooperation With Iran - Mogherini

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    The European Union is cooperating with financial institutions and business community of the 28-nation bloc to encourage them to run business in Iran, EU High Representative for Foreign Affairs and Security Policy Federica Mogherini said Tuesday.

    MOSCOW (Sputnik) — According to the EU foreign policy chief, trade between the European Union and Iran showed a 22-percent increase in January-April 2016.

    "We are very actively engaging with the business community and with the banks in Europe and elsewhere outside of Europe to encourage engaging in Iran," Mogherini said at a press conference in Oslo.

    Tehran began stepping up international trade and investment cooperation after reaching a historic deal on its nuclear program to ensure its peaceful nature in exchange for the suspension of international anti-Iran sanctions, in particular on its oil sector, in July 2015.

    In mid-January, the sanctions were removed after the International Atomic Energy Agency verified the Islamic republic’s compliance with the nuclear agreement.


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