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EghtesadOnline: European Union ended its sanctions against Iranian Oil Industry Pension Fund Investment Company (OPIC), two other companies and a bank.

On the first anniversary of the JCPOA’s implementation, the Council of the European Union decided to review its previous resolutions and ended sanctions imposed on OPIC, according to ISNA.

OPIC is one of oil industry’s subsidiaries providing financial resources and financing services for oil and gas development projects. The sanctions limited the capacity and capability of the company in promoting the oil industry.

In addition to OPIC, EU has removed West Sun Trade and Neka Novin companies as well as London-based subsidiary Bank Saderat from its sanctions list.

Iran sanctions Iran oil Iran-EU ties OPIC