EU lifts sanctions against 4 major Iranian oil companies

Baku. 18 January. REPORT.AZ/ The European Union (EU) has removed sanctions on four major Iranian oil companies on the occasion of the first anniversary of the implementation day of the Joint Comprehensive Plan of Action (JCPOA). Report informs citing the IRNA.

The companies which are subject to removal of sanctions include Iran Oil Pension Fund Investment Company (OPIC), Petropars Operation and Management Company (POMC), Petropars Resources and Engineering Company (PRE) and Iran Liquefied Natural Gas Company (Iran LNG).

The OPIC is the most important of the four as it plays fundamental role in financing investment projects in the Iranian oil industry.