Brazil allocates $1.2bln 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.

3 September 2018
ID : 1650
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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.

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