20 November 2018

Iran’s difficulties in setting up trade mechanism with Europe

 Iranian Foreign Minister, Mohammad Javad Zarif said that European countries find it difficult to set up a special mechanism to trade with Iran without using the US dollar. “In fact, some countries that were proposed to host the mechanism did not accept this task, and negotiations continue to choose a host for the mechanism” the Iranian media reported. Under the mechanism, Europe will pay in goods and services for Iranian crude oil, allowing the country to continue bilateral trade relations with Europe despite the US sanctions re-imposed on the Iranian oil, banking and transport sectors earlier this month.

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