U.S. tells Europe: Choose between us and Iran as new trading system launches

U.S. tells Europe: Choose between us and Iran as new trading system launches
  • Clock-gray 04:35
  • calendar-gray 29 June 2019

The U.S. special representative for Iran said Friday that European companies have a choice: Do business with the United States, or do business with Iran, as Europe announced that a new system to allow trade with Tehran was in place, APA reports citing The Washington.

The comments by Brian Hook came as European countries made a last-ditch effort to prevent Iran from breaching the terms of a 2015 nuclear deal, a move that could add to soaring tensions in the Persian Gulf.

Europe has been scrambling to come up with a mechanism to persuade Iran to stay within the limits of the deal, as Tehran complains that it no longer sees the economic benefit of the accord after the Trump administration pulled out of the deal and reimposed sanctions on the nation. Iran has indicated that if it does not receive some form of sanctions relief, it plans to exceed a limit of 300 kilograms (660 pounds) of low-enriched uranium that the country is allowed to possess under the nuclear agreement.

That threat added urgency to efforts by Britain, France and Germany to set up a complex barter system that would allow some trade with Iran to continue in order to keep Tehran from breaching the deal. The system is now operational, and the first transactions are being processed, senior E.U. diplomat Helga Schmid said after a meeting of officials from the remaining E.U. signatories in Vienna on Friday. She said she expected more E.U. countries to join. 

Faiq Mahmudov

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