The announcement was made by the Spanish foreign minister on Monday, just two days after sanctions against Islamic Republic were lifted, Reuters reported.
Foreign Minister Jose Manuel Garcia-Margallo said he hoped the planned refinery, which would be built in the southern port city of Algeciras with local Spanish firms, would be the first of many deals between the two countries in the post-sanctions era.
On Saturday, Iran’s Foreign Minister Mohammad Javad Zarif and European Union’s foreign policy chief, Federica Mogherini, announced during a joint press conference in Vienna the beginning of the implementation of a nuclear deal reached by Iran and six world powers in the Austrian capital, Vienna, last July. The announcement came after the International Atomic Energy Agency (IAEA) released its latest report confirming Tehran’s compliance with its commitment as per the nuclear agreement, also known as the Joint Comprehensive Plan of Action (JCPOA).
