EU backs Iran trading system
The European Union has welcomed a new mechanism to trade with Iran while bypassing U.S. sanctions, but criticized Tehran over its "destabilizing" ballistic missile program, its "hostile activities" on the territories of several EU member states, and its meddling in countries in the Middle East, The Radio Freedom Europe reported.
In a joint statement unanimously adopted by the bloc's ambassadors on February 4 following more than a week of wrangling in Brussels, the EU restated its commitment to saving the 2015 nuclear deal between Iran and world powers.
The statement hailed the launch last week by France, Britain, and Germany of a financial mechanism to allow firms to trade with Iran without falling foul of U.S. sanctions as key to supporting "legitimate trade" with Iran.
It said the system aimed to provide "a positive impact on trade and economic relations with Iran, but most importantly on the lives of Iranian people."
But the statement said the European Council was "gravely concerned" by Iran's efforts to "increase the range and precision of its missiles, together with increasing the number of tests and operational launches."