Sep 25, 2018, 5:25 PM
News Code: 83044077
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EU ready to defy US sanctions on Iran

Rome, Sept 25- IRNA - On the brink of the new round of US sanctions on Tehran, the European Union has challenged US President while expressing readiness to avoid anti-Iran sanctions, an Italian-language daily wrote.

Il Giornale wrote on Tuesday that tensions between Europe and the United States are rising over imposing sanctions on Iran oil exports.

The European Union plans to continue to buy crude from the Islamic Republic of Iran, thus the possibility of divorce between Europe and the United States exists.

To continue trade exchanges with Iran is important for Italy and the EU as the Islamic Republic is one of the largest exporters of crude oil around the world. The European Union, China and Russia remain determined to maintain financial transactions with Iran.

On the sidelines of the UN General Assembly, Federica Mogherini, High Representative of the Union for Foreign Affairs and Security Policy, announced the creation of a 'special purpose vehicle' to facilitate oil transactions.

Following the meeting with the signatories to Iran nuclear deal, Mogherini said the European Union agrees on creating a mechanism 'to facilitate payments related to Iranian exports, including oil'.

The newly-designed mechanism which is proposed by Brussels and all the signatories to the 2015 landmark nuclear deal (except for the United States) is a challenge for the US-controlled SWIFT system, Il Giornale wrote.

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