Europeans lift first sanctions on Iran since announcement of JCPOA

Europeans lift first sanctions on Iran since announcement of JCPOA
(Image: EU Court of Justice)

[Ed. – But, sure, this will all snap back like clockwork if Iran makes suspicious faces at us.]

The European Union has removed two Iranian oil companies from its sanctions list, the first such action since Iran reached a nuclear agreement with world powers earlier this month.

Petropars Operation and Management and Petropars Resources Engineering had argued there was insufficient evidence to include them.

The companies are part of a group involved in extracting natural gas from Iran’s South Pars field.

They appealed to the EU court in May.

A note from the UK Treasury said an asset freeze no longer applied to the companies.

The EU court removed the companies from the list after receiving no objection from the European Council.

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