Europe is defenseless against US sanctions, including the Russian “Nord stream-2” project, as well as the Iranian nuclear program, German Foreign Minister Heiko Maas said in a speech to French ambassadors in Paris.
“Europe remains vulnerable, in particular, to US sanctions – whether in the framework of the Iranian nuclear program or the “Nord stream -2″ project,” Maas said.
He suggested thinking about strengthening the Euro as the base currency, as well as INSTEX payment channels. Also, the German Foreign Minister said that it is necessary to take into account the work of the European Bank, “quotes in which will be in euros.”
In July 2015, Iran and the six countries (the United States, Russia, China, France, Germany, and the United Kingdom) reached an agreement on Iran’s nuclear program after talks adopted a joint comprehensive plan of action (JCPOA), which is completely removed from Iran’s previously imposed economic and financial sanctions by the UN Security Council, US, and EU.
In May 2018, the US announced its unilateral withdrawal from the JCPOA and the restoration of tough sanctions against Tehran. Since only the US formally withdrew from the deal, the rest of its participants must comply with the condition of lifting the arms embargo.
“Nord stream-2” is a gas pipeline from Russia to Germany under the Baltic Sea. At the end of last year, US President Donald Trump signed the US military budget for the current year, which includes the introduction of sanctions against companies involved in the construction of the gas pipeline.