France, Germany and the United Kingdom officially launched the special purpose vehicle (SPV) on Thursday 31 January, which was immediately welcomed by the High Representative of the Union for Foreign Affairs and Security Policy, Federica Mogherini.
Announced by Mrs. Mogherini in September (see EUROPE 12103), this mechanism should enable European companies to continue their trade with Iran despite US sanctions and the risk of extraterritorial measures from Washington.
“We are pleased to...