{"id":128164,"date":"2019-07-18T16:00:06","date_gmt":"2019-07-18T16:00:06","guid":{"rendered":"https:\/\/www.bnreport.com\/mnuchin-fires-warning-shot-at-eu-trade-with-iran\/"},"modified":"2019-07-18T16:00:06","modified_gmt":"2019-07-18T16:00:06","slug":"mnuchin-fires-warning-shot-at-eu-trade-with-iran","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/mnuchin-fires-warning-shot-at-eu-trade-with-iran\/","title":{"rendered":"Mnuchin fires warning shot at EU trade with Iran"},"content":{"rendered":"<p>CHANTILLY, France \u2014 European trade with Iran must respect Washingtons sanctions against Tehran, the U.S. Treasury Secretary said today.<\/p>\n<p>\u201cWe want to make sure that Instex is very careful on diligence and not doing anything that would run into issues of our sanctions,\u201d Steven Mnuchin told reporters after a two-day meeting between finance ministers and central bankers of <a href=\"https:\/\/www.politico.eu\/wp-content\/uploads\/2019\/07\/G7-Chairs-summary-EN.pdf\" rel=\"noreferrer noopener\" target=\"_blank\">G7 countries<\/a>.<\/p>\n<p>Instex is the \u201c<a href=\"https:\/\/www.politico.eu\/pro\/trump-iran-europe-sanction-powers-set-up-firm-to-thwart\/\" rel=\"noreferrer noopener\" target=\"_blank\">special purpose vehicle<\/a>\u201d (SPV) incorporated this year by France, Germany and the U.K. to keep EU business channels open with Iran, thwarting President Donald Trumps sanctions.<\/p>\n<p>Trump imposed the sanctions after pulling the U.S. out of a deal \u2014 the <a href=\"https:\/\/eeas.europa.eu\/headquarters\/headquarters-homepage_en\/32286\/Nuclear%20Agreement\" rel=\"noreferrer noopener\" target=\"_blank\">Joint Comprehensive Plan of Action<\/a> (JCPOA) \u2014 to constrain Irans nuclear program, as agreed among European leaders, Tehran and the Barack Obama administration.<\/p>\n<p>EU leaders opposed Trumps withdrawal and have pledged to honor the Iran deal. Russia has since <a href=\"https:\/\/www.ft.com\/content\/3aa3e7ee-a8b7-11e9-984c-fac8325aaa04\" rel=\"noreferrer noopener\" target=\"_blank\">thrown its weight behind the SPV<\/a> and called on the EU to expand Instexs business to include oil exports.<\/p>\n<p><a href=\"https:\/\/app.newswirenow.co.uk\/https&lt;\/br&gt;&lt;a href=https:\/\/www.politico.eu\/article\/mnuchin-fires-warning-shot-at-eu-trade-with-iran\/?utm_source=RSS_Feed&amp;utm_medium=RSS&amp;utm_campaign=RSS_Syndication&gt;&lt;strong&gt;Read More \u2013 Source&lt;\/strong&gt;&lt;\/a&gt;&lt;\/p&gt;_&lt;\/body&gt;&lt;\/html&gt;\" rel=\"noreferrer noopener\" target=\"_blank\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CHANTILLY, France \u2014 European trade with Iran must respect Washingtons sanctions against Tehran, the ..<\/p>\n","protected":false},"author":1,"featured_media":128165,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-128164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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