Germany, France, Britain to Launch Mechanism for Trade with Iran

PARIS/BERLIN (Reuters) – France, Germany and Britain have set up a European mechanism for non-dollar trade with Iran to avert U.S. sanctions, although diplomats acknowledged it is unlikely to yield big commercial transactions Tehran says it needs to keep a nuclear deal afloat. Washington’s major European allies opposed last year’s decision by President Donald Trump to abandon the 2015 deal, under which international sanctions on Iran were lifted in return for Tehran accepting curbs on its nuclear program. The EU this month imposed its first sanctions on Iran since the 2015 nuclear pact in reaction to Iran’s ballistic missile tests and assassination plots on European soil.

Source: www.reuters.com