Iran hopes trade channel skirting U.S. sanctions will work within weeks
07 Mar 2019

Iran hopes a new trade channel with Europe aimed at cushioning the blow of reimposed U.S. sanctions will be working within weeks, its deputy foreign minister said on Wednesday.

France, Britain and Germany have set up the new mechanism for non-dollar trade with Iran in response to Washington’s withdrawal from the landmark 2015 nuclear deal that lifted international sanctions against the Islamic republic in exchange for restrictions on its atomic activities.

U.S. sanctions aimed at crippling Iran’s economy and oil industry have resumed, placing the deal in jeopardy, though Iran has continued to comply with the accord so far.

By Francois Murphy, Reuters, 6 March 2019

Link to Reuters

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