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EU announces legal entity to maintain business with Iran

The European Union said Monday it would set up a legal entity to preserve oil and other business with Iran, in a bid to evade US sanctions after President Donald Trump withdrew from a nuclear agreement.

The European Union and Iran, along with Russia and China, said they were determined to “protect the freedom of their economic operators to pursue legitimate business with Iran” in a statement issued after high-level talks at the United Nations. (AFP)