- Iranians holding Ashura mourning for Imam Hussein
- Third step: Iran officially informs EU of plan to expand nuclear R&D
- Iran expands nuclear R&D program: Rouhani
- Iran goes ahead in space tech, despite US sanctions: ISA
- Resistance Front undermining Israeli regime power: Top commander
- Iran: 7 crew members of detained UK ship freed
- US addiction to sanction threaten its power: Iran’s Zarif
- Dutch role in 2007 Stuxnet attack on Iran’s nuclear site under scrutiny: Iraian FM Spox.
- Iran: ‘Sustainable Security 2019’ kicks off in Caspian Sea
- Iran’s Zarif leaves Tehran for Moscow
- Shiraz University ranked 1st in liver transplantation: Iranian health official
- Japan’s Abe to meet Iran’s president to discuss easing tension in region
- Downing of US spy drone shattered war threats against Iran: Top IRGC commander
- IAEO head reports development of first ion-therapy hospital in west of Asia
- Iranian Taekwondo team wins 2019 World Cup championship
- US sanctions failed to force Iran to buckle: Report
- Crew fixing Iran oil tanker broken down in Red Sea
- As Iranians hold nerves, US seeks to scare off trade
- Leader expresses concern about Kashmir, urges India to follow fair policy toward Muslim-majority region
- Iran saffron exports down due to smuggling, government restrictions: Exporter
- Iran FM warns US against ‘serious miscalculation’ in Persian Gulf
- Iran’s resistance policy led to release of oil tanker: MP
- Iran in reverse brain drain as top students come home in rising numbers
- Iran official calls for compensation for tanker seizure
- Iran hails N Korea for standing against ‘unilateral’ US demands
- Shia Muslims celebrate Eid Al-Ghadir
- North Korea praises Iran’s anti-US struggle
- Zarif says to meet French president Friday
- Iranian court hearing case of UK oil tanker
- Over half of Japanese voters oppose joining US-led anti-Iran coalition in Persian Gulf: Poll
- IME trade ups by 21 percent in July
- Finland backs INSTEX in defiance of US
- US anti-Iran policy in high seas harms Europeans: LA Times
- Iran, China confer on Syria
- Iran, Finland share views on Persian Gulf dialogue forum: Zarif
- Iran warns US against seizure of oil tanker
- Iraq eager to benefit from Iranian Police’s experience
- Iran planning 3rd step to reduce nuclear commitments: Spokesman
- Leader grants clemency to over 1,000 Iranian inmates
- Registration for Arbaeen Pilgrimage to begin in Iran on Friday
- Iran, Iraq agree to reopen Khosravi border crossing
- Iran deplores suicide attack at Kabul wedding hall
- Iran to hold int'l hand-woven carpets expo
- Zarif meets with Iran-Kuwait Friendship Group members
- Adrian Darya oil tanker not under any sanctions, says Iran envoy
- ‘Iran to stay in nuclear deal as long as its interests are met’
- India envoy happy with positive trend of trade with Iran
- Iran’s annual export of white meat tops 2.5m tons: Minister
- Iranian scientist discovers new state of matter
- Iran, Japan diplomats discuss bilateral ties
- Iran, Ansarullah, European representatives Yemen developments
- ‘Iran to become self-sufficient in producing aircraft engines'
- US issues seizure warrant for Iranian supertanker 'Grace 1'
- Neanderthal tooth unearthed near Iran’s Zagros mountain
- Iran’s Zarif due in Kuwait on Saturday
- US faces humiliating defeat after Gibraltar releases Iranian tanker: Envoy
- Spokesman rejects claim on Iran’s commitment in exchange for tanker release
- Zarif reacts to release of Iranian tanker in Gibraltar
- Israel, UAE engaged in secret talks on Iran arranged by US: Report
- US threatens visa ban as Iranian-operated tanker sets to sail from Gibraltar
- Enemies must factor Iran's global power in their calculations: IRGC's chief commander
- Trump’s administration conflicting messages to Iran baffle go-betweens: Report
- Gibraltar releases Iran-operated tanker despite US pressure
TEHRAN, August 29 - France and Germany are seeking to develop an independent European financing mechanism with the aim of sidestepping US sanctions against countries, including Iran, and asserting the continent’s “sovereignty.”
TEHRAN, Young Journalists Club (YJC) - Speaking at a meeting with press association AJEF on Monday, French Finance Minister Bruno Le Maire said Paris and Berlin are making joint efforts to develop either a European or a Franco-German financing system.
“With Germany, we are determined to work on an independent European or Franco-German financing tool which would allow us to avoid being the collateral victims of US extraterritorial sanctions,” he said. “I want Europe to be a sovereign continent not a vassal, and that means having totally independent financing instruments that do not today exist.”
Le Maire also noted that the French and German governments had been holding talks with their respective central banks regarding the issue.
“If we want to build a truly independent instrument, we must open up all the options,” he pointed out.
Echoing Le Maire’s stance, German Foreign Minister Heiko Maas said work had already begun on creating a European payment system independent of the SWIFT global payment network.
In an address to the German ambassadors’ conference in Berlin on Monday, he warned that Washington’s sanctions against Iran, China, Russia and Turkey would damage European businesses.
“We must increase Europe’s autonomy and sovereignty in trade, economic and financial policies,” Mass said. “It will not be easy, but we have already begun to do it.”
In an interview with Germany’s Deutsche Welle, Christopher Bovis, professor of international business law at the University of Hull in the UK, said the planned financing system “will allow Iran to interface with European financial systems, European clearing systems, using the nominations supported and created by the European Investment Bank based on the euro.”
The comments come as Paris and Berlin – both signatories to the 2015 Iran nuclear deal – have been struggling along with the entire European Union to save the landmark pact after the US unilaterally withdrew and re-imposed its sanctions against Iran.
Tehran has said it will only stay in the deal if the remaining parties provide it with “practical strides” that it could continue to reap the economic benefits of the deal despite Washington’s pullout. Iran wants European guarantees for the sale of its oil as well as for continued banking relations.
Washington’s withdrawal from the Iran deal and the ensuing re-imposition of bans has put the US at loggerheads with its European allies, who have vowed to protect their business ties with Tehran and keep the nuclear pact alive.
The EU’s stance has infuriated the US, with National Security Adviser John Bolton saying the Europeans have to make a choice between Washington and Tehran in observing the American sanctions.
Earlier this month, President Donald Trump signed an executive order, re-imposing the first round of sanctions on Iran which target the country’s purchase of US dollars, trade in gold and other precious metals as well as the automotive and aviation sectors.
In November, a second round of US sanctions will be reinstated, targeting Iran’s oil industry, the Central Bank, port operators, and the energy and shipping sectors.
Meanwhile, the European Union is scrambling to finalize an economic package aimed at satisfying Iran and keeping the deal.
The EU has already taken a series of measures in support of the nuclear agreement.
Last week, it allocated 18 million euros to development projects in Iran as part of a broader package of 50 million euros earmarked for the country in the EU budget.
On August 6 -- when the first batch of US bans snapped back in place -- the EU activated an updated version of its Blocking Statute, which prohibits European companies from complying with US sanctions on Iran.
The bloc has also warned that it could impose its own sanctions against companies that stop doing business with Iran in compliance with US bans.
Source: Presstv
Your Comment