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EU Lawmakers Back Plan for European Investment Bank to Bypass U.S. Sanctions on Iran
(Reuters) Robin Emmott and Alissa de Carbonnel - The European Parliament gave approval on Wednesday for the European Investment Bank (EIB) to do business in Iran. To circumvent the reimposition of U.S. sanctions on Iran in order to maintain business links with the Islamic Republic, the EU's strategy includes EIB lending, a special measure to shield EU companies from U.S. secondary sanctions, and a European Commission proposal that EU governments make direct money transfers to Iran's central bank to avoid U.S. penalties.