The EU still does not share the US views on nuclear agreement with Iran. After the United States unilaterally withdrew from the deal and imposed sanctions on Iran, the rest of the parties to the treaty had to find workarounds for cooperation. As a result, French, German and UK Foreign Ministers announced the special financial mechanism for trade, known as the Instrument in Support of Trade Exchanges (INSTEX). The US sanctions forced the remaining participants in the Iranian nuclear agreement to look for ways to fulfill their obligations and not to fall under the restrictions imposed. The new mechanism for making financial transactions will definitely be disapproved by Washington but allow the EU to trade with Iran for some time. The US is concerned over this situation, an adviser to the Trump administration said. “The choice is whether to do business with Iran or the United States. I hope our European allies choose wisely,” the official noted.
In turn, this is a very important, even historic, agreement for Europe, and the EU is very afraid that Iran might violate the deal. “We have been looking for ways to obtain this agreement because we are firmly convinced that it serves our strategic security interests in Europe. We do not want Iran to get out of this agreement,” German Foreign Minister Heiko Maas claimed. Reportedly, INSTEX is aimed at facilitating humanitarian goods-related transactions only, including food, medicine and medical equipment, “the sectors most essential to the Iranian population.” However, it might be expanded to cover other categories of goods.
