U.S. Warns Europe That Its Iran Workaround Could Face Sanctions

Wednesday - 29/05/2019 10:33
National flags of Iran line a section of the Hashemi Rafsanjani highway as a construction crane stands beyond in Tehran, Iran. Photographer: Ali Mohammadi/Bloomberg
National flags of Iran line a section of the Hashemi Rafsanjani highway as a construction crane stands beyond in Tehran, Iran. Photographer: Ali Mohammadi/Bloomberg

The Trump administration escalated its battle with European allies over the fate of the Iran nuclear accord, threatening penalties against the financial body created by Germany, the U.K. and France to shield trade with the Islamic Republic from U.S. sanctions, Bloomberg News reports.

Sigal Mandelker, the Treasury Department’s undersecretary for terrorism and financial intelligence, signaled in a May 7 letter obtained by Bloomberg that Instex, the European vehicle to sustain trade with Tehran, and anyone associated with it could be barred from the U.S. financial system if it goes into effect.

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 Keywords: Iran, United States

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