European Investment Bank casts doubt on EU plan to salvage nuclear deal
BRUSSELS - The European Investment Bank's global operations would be put at risk if it were to invest in Iran, its president said on Wednesday, casting doubt on the EU's ability to deliver on its pledge to save a nuclear deal with Tehran that Washington has abandoned.
An EU plan urging its lending arm to invest in Iran as part of efforts to help keep money flowing to Tehran is proving difficult to implement as businesses fear the reimposition of US sanctions.
EIB President Werner Hoyer said that while he supported EU efforts to keep alive the 2015 deal which curbed Tehran's nuclear ambitions, Iran is a place "where we cannot play an active role."
The EU's not-for-profit lender fears any dealings with Iran would jeopardise its ability to raise money on US markets and have far-reaching consequences for its operations. Hoyer said the EIB is indebted by 500 billion euros ($581 billion) in bond issues.
