Fate of Iran-Italy mineral project hinges on EU’s decision – deputy minister
By Trend
The chairman of the Iranian Mines and Mining Industries
Development and Renovation Organization (IMIDRO) said a project
between Iran and Italy for cooperation in the steel and copper
sectors will be implemented by the end of the current Iranian
fiscal year (started on March 21) if the EU does not renege on its
promises.
"An agreement worth €1 billion has been signed between Iran and
Italy for cooperation in the sectors of steel and copper," Mehdi
Karbasian, who is also Iran’s deputy minister of industry, mining
and trade, told Trend.
He added that the implementation process of the deal is expected to
begin by the year-end if the European Union honors its deals with
Iran and does not go back on its promises following Washington’s
pullout from the 2015 nuclear deal between Tehran and world
powers.
US President Donald Trump announced on May 8 that Washington was
walking away from the nuclear agreement, officially known as the
Joint Comprehensive Plan of Action (JCPOA), which was reached
between Iran and the five permanent members of the UN Security
Council - the United States, Britain, France, Russia and China -
plus Germany.
Trump also said he would reinstate US nuclear sanctions on Iran
and impose "the highest level" of economic bans on the Islamic
Republic.
The senior Iranian official further said that IMIDRO has attracted
4 billion euros foreign finance during the second term of President
Rouhani in office, adding that more absorption of capital depends
on the EU and its future promises.
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