EU and Iran agree on new payment system to skirt US sanctions

In a major snub to the United States, the European Union has decided to set up a new mechanism to enable legal trade with Iran without encountering US sanctions. The EU will create new payment channels to preserve oil and other business deals with Iran, Federica Mogherini, the bloc's foreign policy chief said late on Monday, in a bid to evade US punitive measures.
Read more: https://www.aljazeera.com/news/2018/09/eu-iran-agree-payment-system-skirt-sanctions-180925050920569.html?source=Snapzu