Vehicle to be used for humanitarian supplies, then expanded to help firms tradeEurope sets up scheme to get round US sanctions on IranFrance, 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. Further details are expected to be unveiled at a meeting of European foreign and defence ministers in Bucharest. An embassy spokesperson repeated Trump’s threat that all who continued to do business with Iran would be subject to US sanctions.

Source: The Guardian January 31, 2019 16:07 UTC