EU mechanism for trade with Iran not readyMonday, 05 November 2018 14:04
In a joint statement with the foreign and finance ministers of France, the UK and Germany she said the efforts to preserve the continuation of Iran’s export of oil and gas have been intensified in recent weeks, “particularly those underpinning the European initiative to establish a Special Purpose Vehicle on which we are proceeding with work to set up”.
But apparently the work is still on-going and European companies do not know yet if they should cancel contracts with Iran, as some already have done, or risk US sanctions and wait for the payment mechanism. “Our Finance Ministers will further pursue this at their next meeting. Our collective resolve to complete this work is unwavering.”
According to previous statements by a Commission spokesperson the work on the mechanism is in the hands of the member states. The Swedish Ministry of Foreign Affairs, which supports the nuclear deal with Iran, told The Brussels Times today that discussions on expert level are still continuing.
A source in the European Central Bank had nothing to add on the possible features and expected effectiveness of the mechanism but said that it is ready to share expertise and exchange views with EU institutions and governments on payment-system related issues.
Irrespective of the EU plans for a paying mechanism to circumvent US sanctions, China and India, the largest buyers of Iranian oil, will continue buying the oil and Turkey and Russia are also expected to do it.
The Brussels Times
Theo Francken, a Flemish nationalist candidate in Belgium’s parliamentary elections, said that if Sunday’s vote confirmed a trend of partisan differences between the country’s regions, confederalism would have to be put on the negotiating table.
Archaeologists from the Katholieke Universiteit Leuven (KU Leuven) in collaboration with the Turkish University of Burdur have reconstituted the faces…
The language skills of college students are declining, according to research by Odisee, reported by De Standaard on Monday.
The Brussels’ Saint-Jacques neighbourhood, a preferred nightlife spot for members of the LGBTQ community, has created a nightlife charter, the…
On thirty different locations all over Brussels, the movement Fifty Shades of Racism used graffiti tags to show that racism…