Iran, European Union: Commission adopts financial support package

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The European Commission has adopted an 18 million-euro ($15.5 million) financial support package for Iran, the first part of a 50 million-euro commitment to economically support the country, the European Commission announced in a press release Aug. 23.
Why It Matters: While the investment aids the European Union in its goal of preserving relations with Iran, the bloc is incapable of providing the economic support Tehran needs to counter the effect of U.S. sanctions.