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What to Do with Extraterritorial Sanctions? EU Responses

... but the sanctions of the UN Security Council or the EU itself do not apply. Here the EU authorities have laid serious groundwork and have a good chance of achieving their goal. Creation of payment mechanisms, which cannot be stopped from the outside. INSTEX, a payment channel for humanitarian deals with Iran, is often cited as an example of such mechanisms. In 2020, the first transactions were made. However, success in this area raises questions. INSTEX has been widely advertised by EU politicians, but initial expectations were too high. The mechanism ...

04.03.2021

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US Withdrawal From the JCPOA and Anti-Iranian Sanctions: Pros and Cons

... being designated on the SDN list, or leave Iran and incur losses, while retaining the possibility of working on the US market and operating within the USD financial system. The choice for major companies is obvious. Moreover, it is still early days for INSTEX, an alternative settlement system with Iran created by the EU, so it is unlikely to change anything for Iran in the near future. However, there is also a flip side of the coin. Alexey Khlebnikov: Iran’s Oil Sector under Renewed Sanctions: Adopting to the New Reality First, the withdrawal ...

26.07.2019

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