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07:50, 20-Aug-2018
EU pledges to help Iran out of US oil ban
Updated
07:32, 23-Aug-2018
["north america","europe"]
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A top Iranian official said on Sunday that the EU has pledged to take action before the US ban on importing oil from Iran takes effect in November, Press TV reported.
The European countries have made this promise in an attempt to make up for the possible losses that Tehran may suffer, First Vice President Es'haq Jahangiri said.
The US sanctions have so far not limited European countries in the economic sector, particularly concerning oil purchases and trade, Jahangiri noted.
The impact has not been "very determining" despite the departure of some private companies, particularly the European ones, he added.
US President Donald Trump signed an executive order on August 6 to reimpose the first round of sanctions on Iran, which had been listed under the 2015 nuclear deal, to levy "maximum economic pressure" on the Islamic republic.
The sanctions will cover Iran's purchases of US dollar, its trade in gold and precious metals, and its automotive sector.
The second round of embargo will be reimposed in early November with the aim of curtailing Iran's oil exports and shipping sectors.
Source(s): Xinhua News Agency