Brussels, Belgium—Defying US interests and sanctions, the European Commission has approved close to $21 million in aid to Iran.

This will be the first installment of a $58 million package.

“This new package will widen economic and sectorial relations in areas that are of direct benefit to our citizens,” said Federica Mogherini, the EU’s High Representative for Foreign Affairs and Security.

The funds will be distributed to both the private sector and public sectors. The funds allocated to the private sector will be distributed to promising Iranian SMEs (small and medium-sized enterprises); funds allocated to the public sector will target environmental and drug issues.

The Iranian Trade Promotion Organisation will also receive technical assistance from its EU counterpart.

The aid package comes in the wake of the US’ decision to reinstate economic sanctions against Iran for its nuclear program. The EU appears resolute to preserve the nuclear deal and the debatable progress that has been achieved ever since.

“With these measures, the EU demonstrates its support to the Iranian people and their peaceful and sustainable development,” said Neven Mimica, EU’s Commissioner for International Cooperation and Development.

The European Investment Bank (EIB) has also received authorisation from the Commission to enter the Iranian market to minimise the sanctions’ impact. Something, however, that isn’t likely to happen since it would endanger the bank’s business model (the EIB is highly engaged in the US financial market).