European 'clearing house' to bypass US sanctions against Iran

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France or Germany possible hosts for SPV as EU looks to reward Tehran for nuclear deal

A special clearing house designed to allow European companies that trade with Iran to bypass newly reimposed US sanctions will be set up in Europe within months, possibly in France or Germany.

The clearing house, known as a special purpose vehicle (SPV), is seen as critical to reassuring Tehran that the EU genuinely wishes to reward Iran for signing the 2015 deal on its nuclear programme by expanding business with the country.

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Source: iran
Link : European ‘clearing house’ to bypass US sanctions against Iran

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