U.S., EU Urge European Banks, Businesses to Invest in Iran

BRUSSELS—The U.S. and its European partners made a fresh appeal Thursday for European banks and businesses to invest in Iran, saying they would do more to encourage legitimate business in the country now that most sanctions are gone.

Following a meeting in Brussels between U.S. Secretary of State John Kerry, European Union foreign policy chief Federica Mogherini and their counterparts from France, Germany and the U.K., the governments pledged to provide more information and assistance to encourage companies to resume business ties with Tehran.

“We will not stand in the way of permitted business activity with Iran and we will not stand in the way of international firms or financial institutions’ engaging with Iran, as long as they follow all applicable laws,” they said in a joint statement.

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Urge      uk   verb   /ɜːdʒ/  us   /ɝːdʒ/

to strongly advise or try to persuade someone to do a particular thing:

[+ to infinitive] Lawyers will urge the parents to take further legal action.


 Appeal   verb   uk   us   /əˈpiːl/

a request for something, especially money, information, or help:

launch/make an appeal:

The Red Cross launched an appeal after a huge earthquake hit Haiti.


 Legitimate   adjective    uk   us   /lɪˈdʒɪtəmət/

allowed by law or done according to the rules of an organization or activity:

“Defense lawyers argued that such payments are legitimate and customary in newspaper deals. “

“a legitimate business/company/trader “

“legitimate expenses/fees”


 Counterpart   uk   us   /ˈkaʊntəpɑːt/

a person or thing that does the same job or has the same function as a person or thing in a different organization, etc.:

“Why should women in top managerial positions earn less than their male counterparts?”

“ For the first time, the company’s mobile video advertising has outperformed its online counterpart.”


 Pledge   verb [T] uk   us   /pledʒ/

to make a formal promise to do something:

pledge to do sth:

“ The UK chief executive has pledged to slash costs by £150m a year by 2014.”


 Resume   verb uk   /rɪˈzjuːm/ us   /rɪˈzuːm/

if an activity resumes, or if you resume it, it starts again after a pause:

“The agreement came on Saturday after talks resumed near the union’s Washington headquarters. “Businesses that had been disrupted also resumed normal operations.”


 stand in the way of

(also stand in sb’s way)

 to try to stop or prevent something or someone:
“You know I won’t stand in your way if you want to apply for a job abroad.”

 

Permitted

Allowed or given consent to perform an activity such as construction or commerce. Being permitted to perform an activity usually means doing so within specific parameters, such as being permitted to fish within geographic boundaries.


 As long as

provided that; if

“As long as you can come by six, I’ll be here.”


 Applicable   /əˈplɪkəb(ə)l/   adjective

relevant or appropriate.

“the same considerations are equally applicable to accident claims”


 Joint   adjective

   shared, held, or made by two or more people together.

   “a joint statement”