SPV Held Up by European Banks’ Fear of Sanctions

Europe’s financial mechanism for continuing trade with Iran has not been activated yet, because every European bank that steps forward to cooperate faces the United States’ threats, a lawmaker said. 
“American authorities have … warned that they [the banks’ officials] would not even be allowed to enter the US if they cooperate with Iranian banks,” Morteza Saffari Natanzi, a member of Majlis National Security and Foreign Policy Commission, added. 
According to Saffari, the European Central Bank, which had been urged to become involved as a solution, was also dissuaded by the US, ICANA reported. 
“Unfortunately, the US constantly sabotages the efforts,” he said.