EU Mechanism To Enable Trade With Iran Unlikely To Change Business Preference - State Dept

WASHINGTON (UrduPoint News / Sputnik - 26th September, 2018) The special mechanism to facilitate trade of the EU companies with Iran in the context of the US sanctions against Tehran is unlikely to change economic reality and businesses' preferences of the American market over Iranian, US Special Representative for Iran Brian Hook told reporters.

On Monday, the EU foreign policy chief and foreign ministers of Russia, China, France, the UK, Germany and Iran decided to establish mechanism, "special purpose vehicle", to enable EU companies' business with Iran.

"All the major corporations have made the decision to leave Iran. They are making a decision based on business. So I think this is a choice between Iran and the United States... Very few companies are going to choose Iran over the United States. That is an economic reality. So I don't think we need to spend a lot of time on the special purpose vehicles, there is some risk of overemphasizing its importance," Hook said on Tuesday.