“EU Member States will set up a legal entity to facilitate legitimate financial transactions with Iran and this will allow European companies to continue trade with Iran, in accordance with European Union law, and could be opened to other partners in the world” – EU top diplomat Federica Mogherini said, promising to deliver “more technical information” in the coming days.  (Image above: illustration).

The decision was taken at Ministerial Meeting of the Foreign Ministers of China, France, Germany, the Russian Federation and the United Kingdom, the EU and as the Islamic Republic of Iran amid UN General Assembly week in New York.