Washington is threatening to punish European firms for transactions with Iran. Nevertheless, several European countries have drafted a Plan for U.S. sanctions. It is a special purpose entity (“Special Purpose Vehicle to be established”), which provides for the payment transactions between European and Iranian companies, regardless of the Dollar.
Although the European External action service coordinated the negotiations, the company is not an EU Institution. Is worn rather by those three EU countries that negotiated the nuclear agreement with Iran. There is, therefore, the headquarters of the new company, Germany-the managing Director, the British build the accounting.
the company is a kind of exchange, in which the claims of Iranian and European companies, will be charged. Money that Iran, for example, for oil Supplies to Europe in the invoice, could flow directly to European companies, the products to Iran to sell. On Monday, the participating States will meet in Brussels to clarify last Details.
The idea for a payment system that is the US Dollar, regardless, was created shortly after the withdrawal of the USA from the nuclear deal. “We are working hard to clarify the final requirements,” said foreign Minister Heiko Maas of the MIRROR at the beginning of January. “This is in a confrontational Situation with the United States not simply because of this try, of course, to exert pressure.”
U.S. President Donald Trump announced last year that the “harshest sanctions of all time”. The US Ambassador in Berlin, Richard Grenell, warns German companies Long before American sanctions, you should continue trading with Iran. Some German companies have already announced that the deal with Iran to withdraw.