The European Union will establish a mechanism to bypass US sanctions against Iran

The European Union will establish a mechanism to bypass US sanctions against Iran

WASHINGTON, September 25 — RIA Novosti. The European Union will establish a financial mechanism for payments to Iran in circumvention of U.S. sanctions, said in a joint statement Russia, UK, France, Germany, China, the EU and Iran on the results of the Ministerial meeting on the sidelines of the United Nations.


“The participants welcomed the tactical proposals for maintenance and conservation of the payment channels, in particular the initiative to establish a special mechanism to facilitate the payments associated with exports to Iran, including oil, and imports,” — said in a statement read out by the head of European diplomacy Federica Mogherini and the foreign Minister of Iran Mohammad Zarif.

As explained Mogherini, to conduct financial transactions with Iran, the countries members of the EU will create a legal entity.

This will allow European companies to work with Iran in accordance with the European laws, he will also be opened to other participants.Federica Mogilnikova European diplomacy

She stressed that the decision on the establishment of such a mechanism has already been taken.

The participants also advocated the creation of safe and legitimate ways financial settlement with Iran, and for the preservation of Iranian oil, gas condensate and oil products from this country.

In addition, the foreign Ministers participating in the meeting reiterated the need to protect companies doing business with Iran. “Participants acknowledged that Iran continues to fully and effectively discharge its nuclear liabilities (the transaction), as confirmed by the 12 reports of the IAEA,” said Mogherini, noting that the country’s “five” will continue to support the modernization reactor of Arak, and the conversion facility in Fordow.

Iran and “six” of international mediators (Russia, USA, Britain, China, France, Germany) in July 2015 have reached a historic agreement on the settlement of the longstanding problem of the Iranian atom: adopted a Joint comprehensive plan of action (SVPD), which was removed from Iran’s previously imposed economic and financial sanctions by the UN security Council, the United States and the European Union.