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US Fears SPV Could Uplift EU’s Position in Global Finance

US Fears SPV Could Uplift EU’s Position in Global Finance
US Fears SPV Could Uplift EU’s Position in Global Finance

The United States is concerned that the European Union would be able to strongly assert its place in the global financial system after the launch of the special purpose vehicle to enable non-dollar international trade, a lawmaker said.
Jalal Mirzaei added that such a consideration can partly explain Washington’s vehement opposition to the establishment of the transaction mechanism. 

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