Germany, France and the UK want to start according to information from the German press Agency on Thursday that the planned System to circumvent the economic sanctions of the USA against Iran.

Concrete is to be announced, that a society was founded, the payments for Iran transactions handled may be, if private banks declare because of the threat of U.S. penalties ready.

the procedure to contribute Germany, France and Britain to save the international nuclear agreement with Iran. This threatens to fail because of the re-introduction of US sanctions, because Iran for abandoning its nuclear program had been promised the lifting of economic sanctions.

The purpose of society is to circumvent the US sanctions, in the technical language of a Special Purpose Vehicle called, is now to ensure that European companies can handle, in spite of the strict US sanctions transactions with Iran. It acts as a kind of mediation, in the claims of European and Iranian companies can be offset.

could provide, for example, Iran has more Oil or other products to Europe. The money would then flow over banks in Iran, but to European companies, for example, medicines, foods, or industrial goods in Iran and sell. The US sanctions against the payment system with Iran would be undermined.

The United States were dropped out in the past year, despite great concerns of the Europeans unilaterally from the nuclear deal. President Donald Trump had justified the decision, among other things, that it brought no peace in the Middle East. In addition, he accused Tehran to work in spite of the deal to the development of nuclear weapons.

The Europeans see the role of Iran in the Region, such as the United States is very critical. They point out that it is in the agreement only indirectly, and Iran so far, all written commitments to comply with. The latter has confirmed the International atomic energy Agency (IAEA) is already 13 Times according to independent studies.

If the purpose of society can develop, based in Paris, really effect, is considered as unsafe. This is because you can’t protect European companies from US sanctions. It is, therefore, especially for companies that prefer to want to do in Iran than in the USA stores and therefore exclusion from the Market in the United States, not fear.

According to information of the radio station NDR Info, the SPV will be led by an experienced banking expert from Frankfurt, and the name of Instex wear. The acronym stands for “Instrument in Support of Trade Exchanges” – in English: “a tool for support of trading activities”. The UK will take over the chairmanship of the Supervisory Board.

The official announcement of company incorporation is to take place at the Start of the EU foreign Ministers ‘ meeting this Thursday in Bucharest. To him also the Federal government expects foreign Minister Heiko Maas (SPD). He had already said on Monday in Brussels, the implementation of the plans is imminent.

it is Unclear yet how the US will react. US Secretary of state Mike Pompeo had already announced last September that his country would not tolerate circumvention of Iran sanctions.

dpa

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Teodora Torrendo is an investigative journalist and is a correspondent for European Union. She is based in Zurich in Switzerland and her field of work include covering human rights violations which take place in the various countries in and outside Europe. She also reports about the political situation in European Union. She has worked with some reputed companies in Europe and is currently contributing to USA News as a freelance journalist. As someone who has a Masters’ degree in Human Rights she also delivers lectures on Intercultural Management to students of Human Rights. She is also an authority on the Arab world politics and their diversity.

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