'..European companies to continue to trade with Iran in accordance with European Union law..'

'Despite months of effort, the EU has struggled to create a legal mechanism to shield its businesses from the U.S. sanctions. The EU has offered measures such as euro-denominated finance lines and a law making it an offense for EU citizens to comply with U.S. sanctions.'

'With the United States and the U.S. dollar still dominant in much of global trade, the EU statement said a new mechanism or "special purpose vehicle" is needed to "facilitate payments related to Iran's exports [including oil] and imports."

EU foreign policy chief Federica Mogherini, speaking at the UN alongside Iranian Foreign Minister Mohammad Javad Zarif, said the countries were still working out the technical details.

"In practical terms, this will mean that EU member states will set up a legal entity to facilitate legitimate financial transactions with Iran and this will allow European companies to continue to trade with Iran in accordance with European Union law, and could be open to other partners in the world," she told reporters.

Several European diplomats told Reuters that the idea is to create a barter system, similar to one used by the Soviet Union during the Cold War, to exchange Iranian oil for European goods without money changing hands.

Mogherini said the plan is "aimed at preserving the [nuclear deal], which is in the international interest."

She said that Iran has continued to comply with the nuclear accord despite the U.S. sanctions, some of which went into effect in August.

Despite months of effort, the EU has struggled to create a legal mechanism to shield its businesses from the U.S. sanctions. The EU has offered measures such as euro-denominated finance lines and a law making it an offense for EU citizens to comply with U.S. sanctions.'

- EU, Iran Vow To Keep Trying To Find Ways To Get Around U.S. Sanctions, September 25, 2018



Context

(US, Iran) - Fusion For Peace

Focus Fusion - From the old Hydro-Carbon world to the new clean Hydro-Boron one.

(Focus Fusion) - LPPFusion - '..the filaments that we are using in our fusion device also control the formation of structures in the universe.'


'The start of Iran's nuclear program can arguably be pegged to December 8, 1953.'