EU to bypass US sanctions on Iran | DW News

Several EU states have created a new payment channel in a bid to bypass US sanctions on Iran. It's called INSTEX and Germany, France and the UK are behind it. It's designed to allow Iran access to European markets without having to rely on international banks, because banks face penalties under the US-sanction regime. The new payment system will allow Iran to sell products like oil to European customers. Instex would then get the payment due to Iran and keep it. In turn, European companies can deliver food or medicical supplies to Iran, while getting paid by INSTEX. That would allow participants on both sides of system to avoid running afowl of US sanctions that only forbid monetary transactions with Iran - which INSTEX circumvents. Still, companies using INSTEX might risk retaliation from the US.

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[st.michaelanthony]

Anywhere there is Oil, expect United States Government interferance 👿👿💣💣

[atlantian]

The US will put sanctions on every body till complete isolation of itself 🤣

[JohnSmith-fjku]

Keep up European Union. China and Russia should support this idea and both China, Russia and EU should trying to protect this system from US sanction.

[napoleonmeowparte]

The EU showing balls, it truly is shocking

[bahsazad]

Rest of the world should follow suit, and get rid of the danger of US's hegemony.

[johnlam]

The EU countries r doing the right thing to side line US n not follow the US sanction against Iran.

[Herodotus__]

About time damn EU stood up... United SANCTIONS of America is going too farrr

[floyd]

Thats the suit guy!!! When Will there be more dw dresscode seasons?

[mohameda.mahmud]

this is an oil-for-food program, Iran already don't like it

[darkofius]

Did I misunderstood, humanitarian grounds in trade between EU and Iran...political economy - war does not recognize humanitarian "grounds" as predatory capitalism is not democratic and assuredly does not show any humanitarian spectre, bombing last free standing street corner in Syria is not a "humanitarian act"...nor is charging exuberant monies for treating malaria (medicines) or diarrhea...

[vishnusukumaran]

Its ok to have a mutual understandings and respect between USA and Europe, but after trump era, it's bec a sort of threatening voice, blackmailing in terms of trade and everythg, I still doubt EU can bypass sanctions, becz it's almost impossible to have restore full trade when sanctions are on the effect .

[gvi]

Over reliance on Iranian fuel with a volatile currency? Prices will not change on the market but wholesale discount means kickback allowances for the politicians

[leemsylazy]

Should also challenge the USA on Venezuela

[dyasil]

Isn't that just a form of Bartering ? I though we were moving forward ?

[zfqlszn]

more and more countries understand that it is not worth investing in Western depreciating papers.

[swanpride]

Thank god! Should have done this months ago!!!!

[samatarali]

Poor europe shows how weak dependency on us some power smh

[alexhayden]

Bang goes that 'Special Relations'!
Don't you have a feeling that US politics is like the, 'Thunder Dome', scene, the Master/Blaster combo, a simple minded giant with an Incubus on his shoulder? (Israel!)

[rezayawari]

Good for EU, do not listen to the world bully. We make US stronger by trading in Dollar, and we can brake US back too, when the bully is becoming bullier.

[jackmaker]

Project ALTER MAN 47 (AM47) is open for business with Iran, always.