Intel: US stands down on Europe’s new trade mechanism with Iran
Europe launched its first shipment to Iran today using a mechanism that was originally intended to function as a workaround to US sanctions in a Hail Mary bid to salvage the unraveling Iran nuclear deal.
Europe launched its first shipment to Iran today using a mechanism that was originally intended to function as a workaround to US sanctions in a Hail Mary bid to salvage the unraveling Iran nuclear deal. The shipment includes consists of medical goods for Iran to help it cope with the coronavirus outbreak that is ravaging the country.
The mechanism — dubbed INSTEX — was originally conceived as a means to offset the economic burden on Iran resulting from US sanctions. But so far, the United States appears completely unbothered.
