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Italy announces Iran investments ahead of Trump sanctions deadline

9 18 0
12.01.2018

Report. Donald Trump is expected Friday to signal his intentions on the Iran nuclear issue, which could decide the outcome of a €5 billion agreement between Rome and Tehran for development projects.

written by Chiara Cruciati

Topic Middle East and North Africa

ROME

January 12, 2018

With just 24 or 48 hours to go (the timing is still unclear) until the new announcement by U.S. President Trump on the fate of the Iran nuclear agreement, Italian Minister of the Economy Padoan announced with great enthusiasm a new multi-billion-dollar agreement with Tehran. On Thursday, the Italian financial institution Invitalia Global Investment signed a framework agreement worth €5 billion with two Iranian banks, the Bank of Industry and the Middle East Bank.

The agreement sets the terms of future individual funding agreements—that is, funds for projects run in Iran by local and Italian companies in the oil, chemical, metallurgical, infrastructure and construction sectors. It is a deal of enormous scope, but it has a........

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