Brazil Allocates $1.2 Billion For Economic Cooperation With Iran


Brazilian Ambassador to Tehran Rodrigo de Azeredo Santos said his country has allocated $1.2 billion to boost cooperation with Iran in diverse economic fields.

Speaking at a meeting attended by the head of Iran-Brazil Chamber of Commerce, Kaveh Zargaran, and some other high-ranking officials in Tehran on Sunday, Santos voiced Brasilia’s willingness to continue economic cooperation with Tehran even after the US sanctions are re-imposed on the Islamic Republic in November.

“To that end, we have found some solutions in the talks with the Iranian side, which will be implemented,” he added.

Brazil has allocated $1.2 billion of credit lines to economic activists in the Latin American country to cooperate with Iran, the diplomat said, adding that the credit line will be opened by the Brazilian Development Bank.

Iran has enhanced political contacts with foreign countries on the ways to save the 2015 nuclear deal known as the Joint Comprehensive Plan of Action (JCPOA) after the US exit.

On May 8, the US president pulled his country out of the JCPOA, which was achieved in Vienna in 2015 after years of negotiations among Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany).

Following the US exit, Iran and the remaining parties to the JCPOA launched talks to save the accord.

Meanwhile, Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei has underlined that any decision to keep the JCPOA running without the US should be conditional on “practical guarantees” from the Europeans.

Tasnim News Agency

Tasnim News Agency, which claims to be a private news agency in Iran but is reported be close to the IRGC, was launched in 2012. Its purpose is to cover a variety of political, social, economic and international subjects along with other fields.

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