EU Engaging With Banks, Businesses to Invest in Iran

OSLO (Reuters) -
Iran's Foreign Minister Mohammad Javad Zarif gives a speech Tuesday, March 15, 2016, in Canberra, Australia. Zarif said Tuesday that he had deliberately negotiated the wording of the latest United Nations resolution restraining his country's nuclear program to ensure that the test-firing of nuclear-capable Iranian missiles would be legal. (AP Photo/Rod McGuirk)
Iran’s Foreign Minister Mohammad Javad Zarif. (AP Photo/Rod McGuirk)

The European Union is engaging with businesses and banks to encourage them to do business in Iran following the signing of the nuclear deal, the EU’s foreign policy chief said on Tuesday.

“In the first four months this year trade between the European Union and Iran increased by 22 percent,” Federica Mogherini told a news conference in Norway.

“We are very actively engaging with the business community and the banks in Europe and elsewhere to encourage engaging in Iran,” she said.

The United States must do more to encourage banks to do business with Iran following the lifting of sanctions, Iran’s foreign minister said at the news conference.

“I believe the United States on paper has removed all the sanctions,” Mohammad Javad Zarif said.

“On the banks, I believe it is important for everybody to realize that an agreement will be sustainable if everybody feels they are making gains from the agreement… Its implementation must also be a win-win implementation so that everybody feels there are benefits, there are dividends” Zarif said.