U.S., EU say “won’t stand in the way of business with Iran”May 20, 2016 - 10:21 AMT PanARMENIAN.Net - Foreign banks and businesses should not hold back from conducting legal business with Iran, Western powers said Friday, May 20, according to AFP. In a joint statement released after talks in Brussels, the United States, the European Union, France, Britain and Germany sought to reassure companies that, after the Iran nuclear deal, certain forms of trade are permitted. "We will not stand in the way of permitted business activity with Iran," the four powers plus the European Union said. "And we will not stand in the way of international firms or financial institutions engaging with Iran, as long as they follow all applicable laws," they added, according to AFP. Under the terms of the Iran nuclear deal signed last year and implemented in February, international sanctions aimed at Tehran's nuclear program have been dropped. But the United States has maintained its sanctions targeting Tehran's alleged sponsorship of armed movements in the Middle East and its ballistic missile program. European banks, which often have subsidiaries on US soil, have therefore been slow to resume business with Iran, fearing prosecution in the United States. But, a joint statement by the western parties to the Joint Comprehensive Plan of Action (JCPOA) -- the implementation side of the Iran deal -- gave business the green light. "The interest of European and other global firms in Iran is high," the statement said. "And it is in our interest and the interest of the international community to ensure that the JCPOA works for all participants, including by delivering benefit to the Iranian people," it continued. "This includes the reengagement of European banks and businesses in Iran." Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Armenian delegation participating in NATO PA session The delegation is headed by Andranik Kocharyan, the chairman of the standing committee on defense and security matters. Schengen visa cost won’t change for Armenia – diplomat The increase in the cost of a Schengen visa will not apply to citizens of Armenia, a Foreign Ministry spokesperson has said. Yeremyan Projects opens state-of-the-art dairy production plant Yeremyan Projects officially launched the Yeremyan Products state-of-the-art milk processing plant in Yerevan on May 24. Armenian PM’s helicopter makes emergency landing in Vanadzor The helicopter transporting Armenian Prime Minister Nikol Pashinyan made an emergency landing in Vanadzor. |