Europe sets up scheme to get round US sanctions on Iran

[muriel_volestrangler]

Source: The Guardian

France, Germany and Britain have set up a financial mechanism designed to avoid US sanctions against Iran and keep the 2015 nuclear deal afloat.

Through the Instex trade vehicle they hope to assert European economic sovereignty in the face of Washington’s determination to impose its foreign policy on Europe.

The strategy would initially focus on trying to ease the flow of humanitarian supplies to Iran, the German foreign minister, Heiko Maas, said. Such supplies, including medicines and foodstuffs, are not supposed to be subject to US sanctions.

Eventually, the plan is for the vehicle to expand to allow European firms to trade more freely with Iran in a range of goods, including those subject to US sanctions, the EU foreign affairs chief, Federica Mogherini, said.

Read more: https://www.theguardian.com/world/2019/jan/31/europe-sets-up-scheme-to-get-round-us-sanctions-on-iran

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In a statement, the US Embassy in Berlin said: "As the President has made clear, entities that continue to engage in sanctionable activity involving Iran risk severe consequences that could include losing access to the US financial system and the ability to do business with the United States or US companies."

However, it added it did not expect the new payments system, called the Instrument In Support Of Trade Exchanges (INSTEX), would "in any way impact our maximum economic pressure campaign" against Iran.

https://www.bbc.co.uk/news/business-47072020

[Submariner]

1. That's France, Germany and Britain giving the Trump the finger

And with Iran sticking with compliance to the original 2015 nuclear agreement, we may avoid war by keeping 2Scoops boxed in without allies for a fake war like how Iraq got started.

[sinkingfeeling]

2. And the rest of the world continues moving forward.