It almost looks as if Donald Trump wanted to show the Europeans, who sits on the longer lever. From 1. May may deliver in the Iran practically no a single drop of Oil to other countries. The new, stricter sanctions, declared by the American government last weekend. With his foray Trump has unsettled Oil markets and the European Iran strategy, a serious blow.
The Iranian government had signed the 2015 international agreement, the economic relief it promises, if it in return for its nuclear plants to monitor. Donald Trump announced the contract last year, and overlaid Iran with new sanctions. The Europeans are keeping the security Council of the United Nations approved the deal – and since then, the business relations with the country.
This is proving more difficult than initially thought because the majority of European companies have withdrawn out of fear of criminal actions of the Americans from Iran – even though they can be punished in turn, in Europe. The EU has brought a anti-sanction law. It allows European States to impose firm with a fine if you keep to the guidelines from Washington. German exports to Iran are certainly slumped in the past year alone, about nine percent.
the Great hope was in Brussels recently at an independent payment mechanism, the German government together with France and the UK, has launched. A company with the name Instex is to ensure that firms deliver the Goods in Iran, come at least to your money. They are often faced with the Problem that Transfers in the country are not possible because the banks do not offer money services.
The principle works Instex like a barter Bazaar: deliveries of European companies in Iran are settled with deliveries of Iranian companies to Europe. Oil is the main export product of the regime in Tehran. In the EU, Greece and Italy still refer to Iranian Oil.
This article dates back to the TIME no 18/2019. Here you can read the entire issue.
If this is not possible, because Greek and Italian import terminate your their contracts with the Mullahs, it will not be possible to bring by using an independent payment system in transactions with the Iran momentum. Then the Iranians have not simply a lot of, you could offer to exchange.
In the case the American government would have achieved their goal: Iran would be financially and economically isolated, and would have proved, according to the strong Protest of the European Union in practice without consequences. The reaction from Brussels suggests that this is not a unlikely scenario. The EU Commission is not let, although tell, you “regret” the decision Trumps, possible counter-measures are announced. At the end of the American market for the European economy is simply too important.
What this means for Iran is unclear. The Americans speculate that the growing pressure, the government in Tehran, from regional conflict to withdraw and Pro-Western reforms. However, it is equally possible that the radical forces are strengthened.
For the Europeans, who wanted to show in the case of Iran, that you are an independent and not dependent on the USA’s foreign policy, Trumps humiliation step especially.