01:56 GMT +320 June 2019
Listen Live
    In this April 4, 2015 file photo, Iranian and U.S. banknotes are on display at a currency exchange shop in downtown Tehran, Iran

    Mogherini Says Work Continues on EU System Bypassing US Sanctions Against Iran

    © AP Photo / Vahid Salemi
    Get short URL
    0 40

    BRUSSELS (Sputnik) – EU foreign policy chief Federica Mogherini said on Monday that date of creation of the EU Special Purpose Vehicle on bypassing the US sanctions on Iran was still unknown but the work was being carried out in a positive manner.

    "The involvement of the Finance Ministers of the E3 [France, Germany, UK] is of key importance at this stage. They are working hard to finalize it. I cannot tell you a date, but I can tell you that work is continuing and is progressing in a positive manner," Mogherini said on the sidelines of the EU Foreign Affairs Council.

    In May, US President Donald Trump announced that the United States would withdraw from the 2015 Joint Comprehensive Plan of Action (JCPOA), known as the nuclear deal, and re-impose its sanctions against Iran that had been lifted under the agreement. The first round of the US restrictions came into force in August.

    On November 5, the second package of US sanctions targeting, in particular, Iran's oil sector took effect.

    Other parties to the deal – China, France, Germany, Iran, Russia, the United Kingdom and the European Union – have, however, expressed their commitment to the accord and are working on instruments to bypass the US restrictions.

    READ MORE: German Energy Giant Wintershall Stops Activity in Iran Over US Sanctions


    Any Major EU Company Will Always Choose America - US Envoy on Iran Sanctions
    Plan to Bypass Anti-Iranian Sanctions at Risk as EU Members Fear US Vendetta
    EU, UK Plan to Coordinate Sanctions Policy After Brexit
    Anti-Iranian Sanctions Waivers; 'Nationalist Leprosy'; EU 'Sea Bandits'
    UK Seeks to Impose EU Sanctions Against Russian Senior Intel Officials - Reports
    bypass, sanctions, Federica Mogherini, Iran, EU, United States
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik