Europe Says It Has Opened Iran Trade Channel To Dodge U.S. Sanctions
According to a report by Reuters, the European Union said in a statement that Britain, France, and Germany have a special trade channel up and running with Iran that aims to circumvent US sanctions. The statement reads, "France, Germany and the United Kingdom informed participants that INSTEX had been made operational and available to all EU Member States and that the first transactions are being processed." Following talks between the remaining signatories to the Iran nuclear deal after the United States' withdrawal, the statement said that Iran has also established an entity to trade with Europe, while some other EU countries are joining INSTEX as shareholders.
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