- French Party: EU’s SPV Insufficient to Boost France Exports to Iran, Asked to Establish a Joint Bank
As the remaining signatories to the Iran nuclear deal are preparing to implement their financial initiative within the coming months to save the 2015 nuclear accord following the US unilateral withdrawal, a political party in France casts doubt on the overall efficiency of the mechanism calling on Paris to set up a joint bank with Iran to bypass the US sanctions.
The spokesman for the Debout La France Damien Lempereur described the decision by the P4+1 group of countries to set up a ‘special-purpose vehicle’ (SPV) to bypass the US sanctions on Iran as ‘useful’ but said it is largely insufficient to boost France’s exports to countries under sanctions.
“We propose to create a bank without connection or interaction with the US to finance operations of French companies in Iran but also in all countries under sanctions, especially Russia,” Lempereur told Sputnik.
According to Lempereur, the bank could be established with France’s support before joining other European states to found a European financial institution dedicated to France’s exports and jobs.
Earlier, EU foreign policy chief Federica Mogherini said the bloc’s initiative to facilitate payment to/from Iran as part of efforts to save the deal could be in place before November, when the US is to re-impose the second batch of its anti-Iran sanctions.