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    EU Plans to Facilitate Trade With Iran Unlikely to Allay Sanctions Fears - AfD

    © AFP 2018 / EMMANUEL DUNAND
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    MOSCOW (Sputnik) - The establishment of a special vehicle to facilitate trade transactions between EU companies and Tehran sanctions is unlikely to persuade European firms to keep doing business in Iran, Dr. Roland Hartwig, vice-chairman of the Alternative for Germany (AfD) party's parliamentary group in the Bundestag, told Sputnik on Tuesday.

    "I assume that all European companies with a significant US business will not be impressed by this newly created legal entity. They will remain concerned that they may be imposed to direct or indirect sanctions if they do any business with Iran not allowed by the US. I, therefore, do not expect that the establishment of this new legal entity will have any significant impact on the trading of European companies with Iran," Dr. Hartwig said.

    READ MORE: ‘Maintaining Financial Payment Channels': Europe Defies Trump's Iran Sanctions

    The lawmaker stressed that nevertheless the establishment of the SPV to facilitate trade with Iran was a clear step by Brussels against the interests of the United States.

    "It will not go unanswered. It is the first time since decades that important member states of the EU are contradicting the US so openly," Dr. Hartwig added.

    On Monday, EU High Representative for Foreign Affairs and Security Policy Federica Mogherini announced that foreign ministers of the remaining signatories to the Joint Comprehensive Plan of Action (JCPOA) had agreed on the sidelines of the UN General Assembly to create a Special Purpose Vehicle (SPV) that would facilitate trade between European companies and Iran amid US sanctions against Tehran.

    Mogherini explained that the legal entity would be established to enable European companies to continue legitimate transactions with Iran in accordance with the EU legislation.

    In May, US President Donald Trump announced his decision to withdraw from the Iran nuclear deal and impose new sanctions against Tehran and third states doing business with Iran. The US move was condemned by other signatories to the agreement, who have expressed their commitment to preserving the deal.

    The views expressed by Dr. Roland Hartwig in this article are those of the speaker and do not necessarily reflect those of Sputnik.

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    Tags:
    trade, sanctions, Alternative for Germany (AfD), Federica Mogherini, European Union, Iran, United States
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