France says it expects Iran-EU trade mechanism to be established in 'coming days'

Discussion in 'Israel & Middle East Breaking News' started by Almost Heaven, Jan 23, 2019.

  1. Almost Heaven

    Almost Heaven Well-Known Member

    PARIS (Reuters) - France’s foreign minister said on Wednesday that he expected a European-backed system to facilitate non-dollar trade with Iran and circumvent U.S. sanctions would be established in the coming days.

    Diplomats have told Reuters the European Union is set to officially launch the mechanism this month, but the so-called special purpose vehicle (SPV) will not operate for several months because technical details still need to be worked out.

    The vehicle, designed to bypass fresh U.S. curbs imposed after Washington quit a landmark nuclear deal, will be registered in France, run by a German and likely to include France, Germany and Britain as shareholders.

    The SPV “should be implemented in the coming days”, Jean-Yves Le Drian told the French parliament’s foreign affairs committee.

    “It will work as a sort of clearing house that will allow in euros for Iran to benefit from some of its oil resources and at the same time buy essential products from the main three main (European) partners,” Le Drian said.
    Chris, athenasius and Jeri minton like this.
  2. Kaatje

    Kaatje Well-Known Member

    I thought the Germans were scurrying out through the back-door.
    Chris, DanLMP and athenasius like this.
  3. athenasius

    athenasius Well-Known Member

    Hmmmm, have any of these brilliant EU policy makers studied Trump lately????? At all?????? I don't think he really cares if their paperwork doesn't fit his guidelines, that particular president of America could really bite them with sanctions anyways. And he would wait till just the right moment to do so. Like yanking the bus and plane ride right out from under Pelosi and her "team" hours before they were due to lift off.
    Kaatje likes this.
  4. DanLMP

    DanLMP Well-Known Member

    France and Germany just signed some kind of agreement between themselves. The news might be lost in all the other buzz.

    It sounds like they are shifting into long term buddies.
    Chris, athenasius and Kaatje like this.
  5. Kaatje

    Kaatje Well-Known Member

    DanLMP and Chris like this.

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