EU countries create a company to bypass the US sanctions against Iran

European countries are trying to save the agreement with Iran on its nuclear program. For this purpose, a target company is created, through which transactions of European and Iranian firms will go.

Germany, France and the United Kingdom are putting in place a system of circumvention of the US sanctions in trade with Iran. At a meeting of EU foreign Ministers in Bucharest on Thursday, January 31, will be announced the creation of an Agency through which will be carried out payments for transactions between European and Iranian companies, if private banks, fearing the US penalties, refuse to carry out them, said the Agency dpa.

The target company, headquartered in Paris, will act as an intermediary Bureau. Thus, Iran will be able to continue to supply oil and other goods to Europe. The Bureau will send money for them not to Iranian banks, but to European companies that sell industrial goods, medicines and food to Iran. At the same time, the target company is not able to protect European companies from the US sanctions. Therefore, its use will be interesting only to those firms in Europe that are aimed at working with Iran and do not fear exclusion from access to the US market.

Thus, European countries are trying to save the agreement with Iran on its nuclear program. In May 2018, Donald Trump announced the us unilateral withdrawal from the Joint comprehensive action plan (JCPOA) concluded between Iran, the United States, Russia, China, the United Kingdom, France and Germany in 2015 and providing for the implementation by Tehran of a number of steps to limit its nuclear program in exchange for the lifting of sanctions. Trump explained his decision by the fact that the agreement with Iran has not brought peace in the Middle East, and accused Tehran of continuing attempts to create nuclear weapons.

European countries, in turn, indicate that Iran has so far complied with all the terms of the agreement, which has been confirmed 13 times by the international atomic energy Agency (IAEA).

Author: Flyn Braun
Graduated from Cambridge University. Previously, he worked in various diferent news media. Currently, it is a columnist of the us news section in the Free News editors.
Function: Editor