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U.S. envoy for Iran warns EU banks, firms against non-dollar Iran trade

November 15, 2018 1:52 PM
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BRUSSELS (Reuters) - European banks and firms who engage in a special European Union initiative to protect trade with Iran will be at risk from newly reimposed U.S. sanctions, the U.S. special envoy for Iran warned on Thursday.

It is “no surprise” that EU efforts to establish a so-called Special Purpose Vehicle (SPV) for non-dollar trade with Iran were floundering over fear in EU capitals that hosting it would incur U.S. punishment, Special Representative Brian Hook said.

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