Participants of nuclear deal intend to bypass anti-Iranian sanctions

26.09.2018

The countries participating in the nuclear deal with Iran, except the United States, agreed to create a mechanism to circumvent Washington's sanctions against Tehran.

Following the meeting of the foreign ministers of the EU, Russia, China and Iran, the head of the EU foreign policy department,Federica Mogherini read out a general statement, saying that Participants welcomed tactical proposals for maintaining and maintaining payment channels, in particular, an initiative to create a special mechanism to facilitate payments related to the export of Iran, including oil, and imports,

On May 8, Trump withdrew the US from the Joint Comprehensive Plan of Action (JCPOA), signed in 2015, according to which the Islamic Republic of Iran (IRI) renounced the nuclear program, in response to which economic restrictions were lifted. In August, the first package of US sanctions against Iran's automotive and aviation industry came into effect. More powerful restrictions that affect energy and finance, Washington plans to introduce on November 4. This will happen two days before the mid-term Congressional elections, at which Trump needs the voices of the pro-Israel lobby.

The EU "worries" more than the rest

Given that China is accustomed to working in Iran under sanctions and remains its main trading partner, the EU is the most affected by the fate of the SVPD. The EU has invested several billion in the Iranian economy and fears that US sanctions will hit companies in the Old World that have assets in the States. Some of the major European multinationals, such as Total and Peugeot, have already left the Iranian market. Not surprisingly, Brussels is most active in the nuclear deal.

Megherini added that the EU countries will create a special legal entity for financial transactions with Iran, and it will be "open to other partners." And on August 7, the day when the first US sanctions took effect, the European Union adopted a resolution prohibiting European businesses from fulfilling them and promising companies compensation for possible damage.

For the EU, the "nuclear deal" is not only a commercial issue, but also a reputational one.

The warnings of US partners on NATO have not yet convinced Trump to give up pressure on Iran. At the risk of international isolation, the White House continues to strangle Iran. This year the rial lost two-thirds of its value, inflation in Iran is growing. Although in July Trump said that the US is ready for a new "real deal" with Tehran and did not even rule out the possibility of a personal meeting with Iranian President Hassan Ruhani. In return, Washington expects Tehran's refusal to develop ballistic missiles (not related to JCPOA) and the withdrawal of Iranian forces from Syria - "bondage" conditions for IRI. For financial transactions with Iran, and it will be "open to other partners." And on August 7, the day when the first US sanctions took effect, the European Union adopted a resolution prohibiting European businesses from fulfilling them and promising companies compensation for possible damage.

I must say that the more tightly the US tightens the snap on Iran's neck, the greater the incentive for the rest of the countries to oppose. Not only because they invested large sums in the Iranian economy, or they feel sorry for Iran, but because they themselves were the victim of the US sanctions policy. And here it is not of fundamental importance whether Trump's punitive measures were initiated, like tariffs against the EU and China, or by Congress, as in the case of anti-Russian sanctions. Incidentally, today the Deputy Minister of Commerce of the People's Republic of China, Fu Ziying, suggested that Russia join forces against US sanctions.