EU, China and Russia in move to sidestep US sanctions on Iran
The European Union, Iran, China and Russia have set out a plan to sidestep unilateral US sanctions designed to cripple the Iranian economy and force the Iranians to renegotiate the nuclear deal signed in 2015.
European diplomats hope the proposed measure – known as a special purpose vehicle (SPV) – will help persuade an increasingly reluctant Iran to stay inside the deal in the hope of rescuing its economy.
Speaking on the sidelines of the UN general assembly in New York, Federica Mogerhini, the EU external affairs chief, said the SPV was designed to facilitate payments related to Iran’s exports – including oil – and imports, so long as the firms involved were carrying out legitimate business under EU law.
The aim is to make the SPV available not just to EU firms but to others, she added.
John Bolton warns Iran not to cross the US or allies: ‘There will be hell to pay’
In his address to the United Nations general assembly, Iran’s president, Hassan Rouhani, stressed Tehran’s continued commitment to the deal and accused the US of pressurising other countries into violating the nuclear agreement.
“Confronting multilateralism is not a sign of strength,” he said. “Rather, it is a symptom of the weakness of intellect. It betrays an inability in understanding a complex and interconnected world.”
But the US president Donald Trump’s secretary of state, Mike Pompeo, addressing an anti-Iran pressure group, said he was “disturbed and indeed deeply disappointed” by the EU plan.
“This is one of the of the most counterproductive measures imaginable for regional and global peace and security,” Pompeo said.
Versions of the SPV floated by thinktanks suggest it could underpin a sophisticated barter system that can avoid US Treasury sanctions. For example, Iran could ship crude oil to a French firm, accumulating credit that could then be used to pay an Italian manufacturer for goods shipped the other way, without any funds traversing through Iranian hands or the banking system.
Read more: The Guardian
Iran Briefing | News Press Focus on Human Rights Violation by IRGC, Iran Human Rights
Dec 14, 2018 Comments Off on Iran’s Rouhani warns West will be flooded with drugs after US sanctions
Dec 13, 2018 Comments Off on Cheap Power Is Luring Battered Bitcoin Miners to Iran
Dec 13, 2018 Comments Off on Pompeo asks U.N. to bar Iran from ballistic missile testing
Dec 12, 2018 Comments Off on How Iran’s Propaganda Machine Succeeds in the West
Dec 14, 2018 Comments Off on NETANYAHU DOESN’T RULE OUT TAKING BATTLE INSIDE IRAN
Dec 14, 2018 Comments Off on IRAN EXPERT: DETERRING IRAN IN SYRIA KEY, BUT STILL FAR FROM DIRECT ATTACK
Dec 14, 2018 Comments Off on Report: Iran Hackers Targeted US Officials, Nuclear Experts
Dec 13, 2018 Comments Off on Pompeo Warns That Iran’s Missile Program Is ‘Out Of Control’
Dec 10, 2018 Comments Off on Europe is ‘saving’ the Iran deal by ignoring the violationsEurope is ‘saving’ the Iran deal by ignoring the violations Europe is ‘saving’ the Iran deal by ignoring the violations Iran on Saturday launched a ballistic missile that can deliver nukes — and the...
Dec 09, 2018 Comments Off on UPDATE 7-Israel targets “Hezbollah attack tunnels” from LebanonUPDATE 7-Israel targets “Hezbollah attack tunnels” from Lebanon UPDATE 7-Israel targets “Hezbollah attack tunnels” from Lebanon Israel said on Tuesday it had launched an operation to...
Jul 14, 2016 Comments Off on Corps’ one hundred thousand of triggered missiles in Lebanon:An official Israel-threatening by CorpsIran Briefing: Since August 7, 1979, when Ayatollah Khomeini declared the last Friday of Ramadhan as “Quds Day”, the Islamic Republic has always tried to hold an imposing ceremony by using state resources as well as requiring people’s involvement. This year’s Quds march had fundamental...