EIB calls into question EU plan to save JCPOA

TEHRAN, Jul. 18 (MNA) – President of the European Investment Bank (EIB) has cast doubt on EU plan to salvage Iran nuclear deal by saying that the bank would put its global operations at risk by investing in Iran.

Reuters reported today that EIB President Werner Hoyer has said that while he supported EU efforts to keep alive the 2015 deal which curbed Tehran’s nuclear ambitions, Iran is a place “where we cannot play an active role.”

The EU’s not-for-profit lender fears any dealings with Iran would jeopardize its ability to raise money on U.S. markets and have far-reaching consequences for its operations. Hoyer said the EIB is indebted by 500 billion euros ($580.80 billion) in bond issues, the Reuters report added.

The bank will only do business in Iran if it receives approval from its board of governors, which are the finance ministers of the EU’s 28 member states, and on the basis of finding suitable projects to invest in, Reuters said, while adding that the EIB cannot be obliged to invest by the European Commission, which devised the plan.

KI/PR

News Code 135859

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