Friday, November 27, 2020

Tag: EU Announces New Payment System to Circumvent US Economic Sanctions

EU Announces New Payment System to Circumvent US Economic Sanctions

by Peter Schiff, Schiff Gold:

The EU has announced it will create a special payment channel to circumvent US economic sanctions and facilitate trade with Iran.

Last month, German foreign minister Heiko Maas called for the creation of a new payments system independent of the United States. The announcement Monday sets that plan in motion.  

EU foreign policy chief Federica Mogherini made the announcement after a meeting with foreign ministers from Britain, France, Germany, Russia, China and Iran. She said the new payment channel would allow companies to preserve oil and other business deals with Iran.