UK Defiant On Iran Sanctions Workaround In Face Of US Pressure

The UK government is standing by plans to establish a new payment system circumventing US restrictions on trade with Iran, despite fresh threats of sanctions from across the Atlantic.

The INSTEX trade vehicle, a joint project between the UK, France and Germany, was launched at the beginning of this year as a means for companies that wished to trade with Iran to do so without running the risk of falling foul of US controls.

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