Possible Way Around Trump's Iran Sanctions?

[Perknose]

Special Purpose Vehicle.

"The European Union, Iran, China and Russia have set out a plan to sidestep unilateral US sanctions designed to cripple the Iranian economy and force the Iranians to renegotiate the nuclear deal signed in 2015.

European diplomats hope the proposed measure – known as a special purpose vehicle (SPV) – will help persuade an increasingly reluctant Iran to stay inside the deal in the hope of rescuing its economy."

[...]

"Versions of the SPV floated by thinktanks suggest it could underpin a sophisticated barter system that can avoid US Treasury sanctions. For example, Iran could ship crude oil to a French firm, accumulating credit that could then be used to pay an Italian manufacturer for goods shipped the other way, without any funds traversing through Iranian hands or the banking system.

A multinational European state-backed financial intermediary would be set up to handle deals with companies interested in Iran transactions and with Iranian counter-parties. Any transactions would not be transparent to the US, and involve euros and sterling rather than dollars."

But:

Richard Nephew, a former Barack Obama official and author of The Art of Sanctions, expressed scepticism on Twitter, saying that for the SPV to be taken up, European firms – many with either US employees, or US subsidiaries – must still be prepared to take the risk of being sanctioned by the US.

[...]

"Jarrett Blanc, another former Obama staffer for the Iran deal, broadly agreed with Nephew, but was more sympathetic, writing that “the symbolism here is probably Europe’s most important contribution, and it may be sufficient depending on what China, India, Turkey do on oil”. He added: “The payment mechanism move opens the door to a longer-term degradation of US sanctions power.”

^^^ My take is that the other kids on the playground are creeping up on The Big Orange Bully, and that, overall, Trump's idiot, "go it alone" nationalism's end result will be a diminution of American power, influence and prestige in the world.''

Thanks, you fat ignorant f*ck! Mr. Trump, the harm you have done, and continue to do to our country, both domestically and internationally, will be felt for years and years to come.

 

[interchange]

I think Trump will react badly to this. Hard to know whether this is something he will act on or just complain about. I really don't want escalation.

 

[FIVR]

This is the whole point of having Trump in power: Removal of US ability to sanction Russia and its allies.


I'm actually glad that US sanction power is being diminished. We have killed millions of people, many of them children, with these ridiculous economic sanctions. The world will be a much better place when America is no longer able to wield this sort of "soft power" on nations like Iran, Yemen, and Syria. The fact that it also benefits Putin is a downside, but does not outweigh the benefits.

That said, it is quite embarrassing to be a citizen of a nation run by an imbecile.

 

[Hayabusa Rider]

I think Trump will react badly to this. Hard to know whether this is something he will act on or just complain about. I really don't want escalation.

Trump reacts badly to everything because he must have enemies. At the moment much is Trump against the rest of the world, including the best interests of the US. In that context, I'll go with everyone else. If the other nations think it's worth trying I'm all for them. No rational person wants to see an escalation of terrible policies but they will exist in any case. It's a rather Shakespearian choice of "Whether 'tis nobler in the mind to suffer The slings and arrows of outrageous fortune, Or to take arms against a sea of troubles, And by opposing end them?" Better to take up the weapons of diplomatic and legal tactics than someone taking up actual arms. I was never good with "bend the knee" as a solution.

 

[UNCjigga]

So in other words, a useful idiot just forced Iran and EU allies to use a shady system of Russian banks and intermediaries that will be certain to enrich a few oligarchs?

 

[Blackjack200]

Thanks, you fat ignorant f*ck! Mr. Trump, the harm you have done, and continue to do to our country, both domestically and internationally, will be felt for years and years to come.

I think long term degradation of US sanctions power is a good thing. Though I'm not sure if that will actually occur, or if it does, the extent to which symbolic deals like this will play a role.