EU lifts ban on 3 Iranian companies, bank branch

January 18, 2017 - 17:32

TEHRAN- In an amendment to its previous decisions, the council of the European Union removed its restrictive measures against three Iranian companies as well as a branch of an Iranian bank.

The amendment published on the Official Journal of the European Union on Tuesday mentioned Oil Industry Pension Fund Investment Company (OPIC), Neka Novin (a.k.a. Niksa Nirou), West Sun Trade GMBH, and Bank Saderat PLC (London) as the Iranian entities against them the sanctions are lifted.

One year has passed since the implementation of Iran’s nuclear deal with the 5+1 group of countries in January 2016.

EU foreign policy chief Federica Mogherini has said that nuclear agreement is working.

“We can clearly say that the Iran deal is working and we need to maintain it,” she wrote in an article published by the Guardian on Tuesday.

Also at the start of his final week in the White House, Barack Obama issued a warning to the incoming Trump administration about the value of the nuclear deal with Iran.

“The United States must remember that this agreement was the result of years of work,” read a statement released by the White House on Monday.

The deal, the statement said, “represents an agreement between the world’s major powers – not simply the United States and Iran.”


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