Sputnik - Late last month, media reports said that the EU had allocated 18 million euros ($20.6 million) in aid for Iran, including for the country�s private sector, in a bid to lessen the impact of US sanctions and encourage Tehran to stay in the 2015 Iran nuclear deal.




Geert Bourgeois, Minister-President of�Belgium's Flanders Region, has pledged that the European Investment Bank (EIB) will back investment in�Iran amid�Brussels' efforts to�boost the EU's "blocking statute" to�contain the US' anti-Iranian sanctions, according to�Iran's Fars news agency.
"The European companies have suffered from�the US sanctions and punishments [against Tehran], and the US uses the dollar as�a weapon to�punish countries," Bourgeois was quoted by�the news outlet as�saying during�a meeting with�a high-ranking Iranian parliamentary delegation in�Belgium.


He voiced hope that EU companies and their Iranian counterparts would continue to�cooperate in�an array of�sectors, including research and development, digital technology, as�well as�oil and energy.

Head of�the Iranian delegation Kazzem Jalali, for�his part, called for�more practical measures by�the EU to�shore up�the Iran nuclear deal, also known as�the Joint Comprehensive Plan of�Action (JCPOA).
"Europe should not suffice to�merely pay lip service to�give logic to�the Islamic Republic of�Iran's commitment to�the [Iran nuclear] deal," Jalali underscored.


The remarks came amid�Washington's threats to�punish foreign companies that refuse to�join Washington's sanctions and continue doing business with�Iran.

The first phase of�US sanctions targeting Iranian exports, the country's financial system and its ability to�access the global financial system, took effect on�August 7, while the second wave to�target Iran�s energy sector is scheduled for�November 4.

Also in�August, the EU allocated 18 million euros ($20.6 million) in�aid for�Iran to�lessen the impact of�US sanctions, part of�a 50 million euro ($58 million) aid package that Brussels has set aside for�Iran in�its budget.

In mid-May, European Commission President Jean-Claude Juncker vowed that the EU will amend its "blocking statute", a measure which will shield European companies doing business with�Iran, help them not comply with�the US's sanctions-related decisions and demand compensation for�losses caused by�Washington's actions.

When he announced his decision to�withdraw the US from�the Iran nuclear deal earlier in�May, President Donald Trump also pledged to�reinstate the "hardest ever" anti-Iranian sanctions that were lifted as�a result of�the JCPOA.