Europe-Iran new payment system, the most counterproductive measure: Secretary Pompeo

On Tuesday, September 25, US Secretary of State Mike Pompeo blasted at five major powers and signatory of Iran Nuclear deal for establishing a payment channel in European Union for continuing trade and business with Iran, even after full implementation of US sanctions on Iran.

Pompeo said, “I was disturbed and indeed deeply disappointed to hear remaining parties in the deal announced they are setting up a special payment system to bypass US sanctions”.

He said, “This is one of the most counterproductive measures imaginable for regional and global peace and security”.

After announcement of setting up a special payment system by European Union, five major powers and Iran, Pompeo said that they are bolstering Iran as the number one state of terror sponsor.

On Monday, September 24, after a meeting of European Union leader and diplomats from France, Britain, Germany, Russia, China and Iran, the foreign policy chief of European Union Federica Mogherini announced the agreement on setting up a special payment system to facilitate payments of Iranian Imports and Exports, after US sanctions will be in full implementation from November.

Mogherini told reporters, “In practical terms this will mean that EU member states will set up a legal entity to facilitate legitimate financial transactions with Iran and this will allow European companies to continue to trade with Iran in accordance with European Union law and could be open to other partners in the world”.

US president withdrew from Iran Nuclear deal on May 8, 2018 and vowed to reimpose the US sanctions on Iran to maximize the economic and diplomatic pressure on Iran by reducing its oil and Gas exports to zero.

In his speech at United Nations General Assembly, US President Donald Trump called Iran the leading sponsor of terrorism, whereas Iran’s Rouhani alleged US administration of trying to overthrow his government. Rouhani cited US sanctions as “economic terrorism”.


Konark Bassi

Konark, a great human being by nature is also a good learner and a deep thinker. Konark portrays his incredible writing skills into journalism and writes what he finds authentic and acceptable. He is a good social worker and enjoys his time caring for others.

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