On Monday 24 September, High Representative of the EU for Foreign Affairs and Security Policy Federica Mogherini announced that the EU countries that are members of the Iranian nuclear deal would set up a "special purpose vehicle" (or SPV) in order to help European companies that are still signatories to the deal to do business in Iran despite the US sanctions.
"In practical terms this will mean that EU member states will set up a legal entity to facilitate legitimate financial transactions...