...the successor to the Holy Roman Empire, only without the Hapsburgs and the nifty uniforms and the dancing...will establish a mechanism to facilitate non-dollar transactions with Iran in the near future in an attempt to circumvent sanctions imposed by the United States against Tehran, EU foreign policy chief Federica Mogherini says.
"I will expect this instrument to be established in the coming weeks before the end of the year as a way to protect and promote legitimate business," Mogherini told news hounds in Brussels on Monday.
The top EU diplomat did not offer any other details following a meeting of the bloc's foreign ministers in Brussels, but said work on creating the mechanism was "advancing well."
US President Donald Trump
...New York real estate developer, described by Dems as illiterate, racist, misogynistic, and what ever other unpleasant descriptions they can think of, elected by the rest of us as 45th President of the United States...
withdrew his country in May from the landmark Iran nuclear deal, officially known as the Joint Comprehensive Plan of Action (JCPOA), and decided to re-impose unilateral sanctions against Tehran.
Under the deal, reached between Iran and six major powers -- the United States, Britannia, La Belle France, Germany, Russia and China -- Tehran agreed to put limits on its nuclear program in exchange for the removal of nuclear-related sanctions.
The Trump administration announced early in November the re-imposition of the "toughest" sanctions ever against Iran's banking and energy sectors with the aim of cutting off the country's oil sales and crucial exports.
A first round of American sanctions took effect in August, targeting Iran's access to the US dollar, metals trading, coal, industrial software, and auto sector.
The US administration hoped to get the other parties to the deal with Iran to likewise scrap the deal, but instead, they stressed that not only would they stick to the agreement, but they would also work to sustain it in the face of increased US pressure.