The EU is working to expand the mandate of the EIB for lending to Iran in the face of US sanctions

The European Union is working to expand the mandate of the European Investment Bank for lending to Iran in the conditions of US sanctions, the Joint Commission of the Joint Comprehensive Plan of Action reported. The statement says that the work on updating the EU “blocking law” is being carried out in order to protect companies of the countries, which are EU members, and the EIB's mandate for external borrowing is being updated to include Iran. In May, after the US resumed sanctions against Iran, the EU launched a “blocking law” dated 1996 to protect its enterprises.

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