Skirting U.S. sanctions, Europeans launch trade mechanism for Iran
By John Irish, Riham Alkousaa
PARIS/BERLIN – France, Germany and Britain have set up a mechanism for non-dollar trade with Iran to avert U.S. sanctions, although diplomats acknowledge it is unlikely to free up the big transactions that Tehran says it needs to keep a nuclear deal afloat.
Washington’s major European allies opposed last year’s decision by U.S. President Donald Trump to abandon the 2015 deal, under which international sanctions on Iran were lifted in return for Tehran accepting curbs on its nuclear program.
Iran has threatened to pull out of the deal unless the European powers enable it to receive economic benefits. The Europeans have promised to help companies do business with Iran as long as it abides by the deal.