Editor in Chief: Moh. Reza Huwaida Sunday, November 18th, 2018

EU3 to Open Trade with Iran Independent of US Dollar: Russia FM

EU3 to Open Trade with Iran  Independent of US Dollar: Russia FM

TEHRAN - Russia’s Foreign Minister Sergei Lavrov says the three major European signatories to a landmark nuclear deal with Iran agreed to establish trade ties with Iran independent of the US dollar.
Since the United States’ unilateral move in May to withdraw from the nuclear accord, officially known as the Joint Comprehensive Plan of Action (JCPOA), European companies are under mounting pressure from Washington to cut business ties with Tehran.
US President Donald Trump announced on May 8 that Washington was walking away from the nuclear agreement and that he plans to reinstate US nuclear sanctions on Iran and impose “the highest level” of economic bans on the Islamic Republic.
Under the JCPOA, Iran undertook to put limits on its nuclear program in exchange for the removal of nuclear-related sanctions imposed against Tehran.
Lavrov said on Monday that the decision by France, Germany and Britain would mainly concern small and medium-sized companies.
The top Russian diplomat added that the remaining parties to the Iran nuclear deal have agreed to work out measures to protect the countries’ businesses from US sanctions.
He criticized Washington’s “illegal and unacceptable” decision to re-impose sanctions on Iran.
“Everyone agrees that this is an absolutely illegal and unacceptable policy, but, of course, this can hardly be changed and there will be enough struggle in trade, economic and political spheres,” Lavrov said.
Since the US president pulled Washington out of the historic nuclear deal, European countries have been scrambling to ensure that Iran gets enough economic benefits to persuade it to stay in the deal. The remaining parties have vowed to stay in the accord.
Tehran has conditioned its stay in the deal to practical European strides to make sure Iran’s dividends from the deal would not be affected when US sanctions “snap back” in August. (Press TV)