EghtesadOnline: A top cleric lashed out at European states for failing to deliver on their pledge to take practical steps to uphold the 2015 nuclear deal following the US withdrawal, saying he believes Tehran will eventually be compelled to ditch the deal.
EghtesadOnline: As Iranian traders (and more broadly Europeans) wait for the launch of the long-awaited special purpose vehicle by European powers, some businesses fear that the trade mechanism may after all fail to shield Iran’s trade from the long reach of US sanctions.
EghtesadOnline: European powers should not ignore the contribution of Iran's nuclear deal to their national security while making decisions that could shape the fate of the agreement undermined by the US exit, a political analyst said.
EghtesadOnline: As the main party to blame for the possible failure of efforts to set up a special financial mechanism for trading with Iran, Europe will have to ponder over the implications of its inaction, a senior foreign affairs official said.
EghtesadOnline: Oil trade is the cornerstone of Europe’s financial mechanism to maintain business ties with Iran and the system cannot operate without covering the sale of Iranian crude, Foreign Minister Mohammed Javad Zarif said.
EghtesadOnline: European diplomats are warning that enhanced US financial sanctions against Iran run the risk of forcing the rest of the world to create alternative banking systems that could undermine the long-time dominance of the US dollar.
EghtesadOnline: Shrimp produced in the northern Golestan Province has received Iran Veterinary Organization’s permit for direct export to European countries.
EghtesadOnline: Sanctions imposed on Iran by the United States offer an opportunity for Europe to develop its own independent financial institutions, France’s Finance Minister Bruno Le Maire said.
EghtesadOnline: As the reimpostion of the second round of US sanctions draw near, European finance ministers will try to persuade the Trump administration not to cut off Iran’s access to Swift, the global financial messaging service, in meetings with Steven Mnuchin, the US treasury secretary, at the IMF gathering in Bali this week.
EghtesadOnline: Germany and its European partners are considering setting up a payment system with Iran, which allows the continuation of business transactions with the Islamic Republic once US sanctions kick in, an economy ministry spokeswoman said on Friday.