Iran Nuclear NewsUS Warns Europe Against INSTEX

US Warns Europe Against INSTEX


Iran, the EU, and the USA

By Jubin Katiraie

The US warned European banks, investors and businesses on Wednesday against using the special purpose vehicle (INSTEX) that Europe has created to bypass US sanctions on Iran by trading in Euros as opposed to the dollar.

Tim Morrison, Special Assistant to the President and Senior Director for Weapons of Mass Destruction and Biodefense, said: “If you are a bank, an investor, an insurer or other business in Europe you should know that getting involved in the … Special Purpose Vehicle is a very poor business decision.”

Iran threats

Iran sent a letter to European leaders threatening threat to restart some sectors of its nuclear program and begin enriching uranium to weapons-grade again because it is not seeing the economic benefits of the nuclear deal. Iran then gave a deadline to world powers to help neutralize US sanctions.

Europe responded by warning Iran not to violate the deal but did not rescind the INSTEX proposal.

The EU, UK, France, and Germany issued a joint statement on Thursday rejecting “Iran’s ultimatum” and saying that they are concerned about Iran’s statements over its commitments.

the UK’s foreign secretary Jeremy Hunt said: “I urge Iran not to take further escalatory steps… for as long as Iran keeps its commitments then so too will the United Kingdom.”

Morrison called it “nothing less than nuclear blackmail of Europe”.

The blackmail comment was echoed by US Secretary of State Mike Pompeo, who was meeting with Hunt, but he also cautioned that Iran’s letter was vague and so the US would wait to see if Iran actually followed through.

Pompeo also issued a statement on Wednesday, listing the US’s success in putting pressure on Iran, including through sanctions on Iran’s oil sales and other exports, and insisted that Washington is committed to blocking Iran’s “paths to a nuclear weapon”. He reiterated his speech from last May about US strategy toward Iran.

He said: “We will continue to apply maximum pressure on Iran until its leaders change their destructive behaviour, respect the rights of the Iranian people, and return to the negotiating table.”

He also implied that the US and the EU were cooperating to stop the threat from Iran.

Morrison said Wednesday that the US was planning to impose further sanctions on Iran ‘very soon’, while Donald Trump signed an executive order to put sanctions on four metals that Iran has been exporting.

Since the US pressure campaign began, the value of Iran’s currency has plummeted, while the inflation rate has quadrupled.

Latest news

Iranian People’s Resistance Changed the Appeasement Policy

Soon after the new US government started its obligations in January 2021, hand in hand with the European governments...

Khamenei’s Disgraceful Campaign Against Piranshahr and Javanrud, Who Will Be the Loser?

On the 67th day of Iran’s revolution, the Iranian regime attempted to put a halt to the protests in...

Iran: Expensive Medicine, Cheap Human Life

A look at the equipment and weapons that the Iranian regime has been using against its people to suppress...

Who Is Abolqasem Salavati Iran Regime’s Killer Judge?

Last week, it was announced that the case of several people who were arrested during the Iranian People's uprising...

Iran Revolution Characteristics

More than two months have passed since the start of the latest round of protests in Iran against the...

Iran’s Regime Is Unable To Eradicate Protests

Totalitarian governments, whether be it a monarchy or a clerical regime, and their international supporters are pursuing the same...

Must read

India, Pak, Iran to hold pipeline talks June-end

Reuters: India, Pakistan and Iran will hold their next...

FBI eyes Hizbollah in US as tensions with Iran rise

Reuters: The FBI is trying to ferret out possible...

You might also likeRELATED
Recommended to you