Date :Saturday, July 14th, 2018 | Time : 14:50 |ID: 66585 | Print

E3 agree to establish non-dollar trade with Iran: Russia’s Lavrov

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SHAFAQNA – ISNA : Major European countries party to nuclear negotiations with Iran – France, Germany, and the UK – have agreed to maintain trade with Tehran independent from the US dollar, Russian Foreign Minister Sergey Lavrov said.

European companies are under increasing pressure from Washington to cut business ties with Tehran. Since the majority of transactions are currently conducted using the US dollar, firms working in Iran face potential US penalties, RT reported.

According to Lavrov, the decision particularly concerns small and medium-sized companies. He explained that the participants in the Iranian deal have agreed to work out measures to protect the countries’ businesses from US sanctions.

“Everyone agrees that this [US sanctions] is an absolutely illegal and unacceptable policy, but, of course, this can hardly be changed and there will be enough struggle in trade, economic and political spheres,” the minister said.

Last week, EU lawmakers gave approval for the European Investment Bank (EIB) to do business in Iran in an attempt to save the 2015 nuclear deal.

Read more from Shafaqna:

Future of Iran’s Nuclear Deal- SHAFAQNA EXCLUSIVE

The G7 summit was a mess: France push Trump to make policy concessions on Iran nuclear deal

French President speaks in defense of Iran nuclear deal in UN speech

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