The European Union (EU) is preparing a mechanism to circumvent US sanctions. against Iran, so that it continues to import crude from the Persian country.
"We are in the process of implementing measures (to create a Special Purpose Entity or SPV, for its acronym in English). The work is ongoing, "EU Foreign Affairs spokeswoman Maja Kocijancic said on Wednesday, adding that" the measures are being taken slowly ... some diplomats are concerned about internal opposition (from each member). "
Kocijancic also ratified the commitment of the Twenty-eight with the nuclear agreement between Iran and the Group 5 + 1 (which left the US) officially called Integral Action Plan Joint (PIAC or JCPOA, for its acronym English)
The European block seeks to create "a company registered in one of the EU countries that allows transactions." This company would manage the monetary transactions for the purchase of Iranian crude and will allow liquidating these acquisitions in the EU, according to anonymous sources quoted by the French news agency AFP .
The sources quoted also state that "Iranian oil sales will not fall to zero on November 5 - one day after the entry into force" of the second round of sanctions announced by the US. against Iran in August - and point out that Washington is aware that it is not interested in the firing of oil prices due to Iran's exit from the oil production market.
After unilaterally withdrawingfrom the nuclear pact signed in 2015 between Iran and the US, the United Kingdom, France, Russia and China, plus Germany, which were then members of the 5 + 1 Group, US President Donald Trump raised twelve demands, including the cessation of uranium enrichment by Iran, for a new pact.
In addition, US authoritieshave threatened"terrible consequences" to those who decide to do business with Iran despite Washington's sanctions.
However, EU Diplomacy Head FedericaMogherini saidon September 26 that the European bloc will save the nuclear agreement and will soon draw up a mechanism to evade US anti-Iran sanctions.