EU lawmakers back plan for European Investment Bank work in Iran | Reuters

EU lawmakers back plan for European Investment Bank work in Iran | Reuters:

EU lawmakers gave approval on Wednesday for the European Investment Bank (EIB) to do business in Iran, overcoming a blocking attempt and keeping alive plans to save the 2015 nuclear deal with Tehran that Washington has abandoned.

The EIB, the European Union’s not-for-profit long term investment arm, is a key pillar of the bloc’s attempts to maintain business links with Iran in the face of Washington’s decision to re-impose sanctions on the Islamic Republic.

However, the EU lawmakers’ decision does not oblige the EIB to work with Iran, a move that could jeopardize its ability to raise money on U.S. markets and so have far reaching consequences for its operations.