Legal Entity To Bypass US Sanctions Against Iran Could Be Registered In France - Source

Rukhshan Mir (@rukhshanmir) Published January 21, 2019 | 09:46 PM

France is likely to register a legal entity whose purpose would be hosting a so-called Special Purpose Vehicle (SPV) to evade US sanctions against Iran, a diplomatic source in Brussels told Sputnik on Monday

BRUSSELS (UrduPoint News / Sputnik - 21st January, 2019) France is likely to register a legal entity whose purpose would be hosting a so-called Special Purpose Vehicle (SPV) to evade US sanctions against Iran, a diplomatic source in Brussels told Sputnik on Monday.

"As far as I know, a legal entity to host the SPV will be created, it could be registered in France.

The official announcement is expected by the end of January," the source said.

In September 2017, following a ministerial meeting on the sidelines of the UN General Assembly, the United Kingdom, Germany, France, China, Russia and Iran announced that the European Union would establish a mechanism to ensure financial transactions with Iran after Washington's decision to reimpose sanctions on Tehran.