Germany and France said they are working on financing solutions to sidestep US sanctions against countries such as Iran, including a possible role for central banks.
The discussions, which also involve the UK, indicate that European powers are getting serious about demonstrating a greater level of independence, as their frustration at mollifying US President Donald Trump hell-bent on pushing his “America First” agenda has given rise to widespread anger.
“With Germany, we are determined to work on an independent European or Franco-German financing tool which would allow us to avoid being the collateral victims of US extraterritorial sanctions,” French Finance Minister Bruno Le Maire said on Monday during a meeting with the press association AJEF.
“I want Europe to be a sovereign continent not a vassal, and that means having totally independent financing instruments that do not today exist.”
August 28, 2018 20:05
0
EU Working on Payments Plan for Iran Business
The discussions indicate that European powers are getting serious about demonstrating a greater level of independence, as their frustration at mollifying US President Donald Trump has given rise to widespread anger
Maas said that while most of the “very difficult questions on the details” of any payments system are unresolved, at least the alternative of a nuclear escalation in the Middle East has so far been avoided
Add new comment