Iran seeks European assurances as U.S. oil sanctions loom

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DUBAI (Reuters) – Iran called on Saturday for European assurances of support in the face of Washington’s intent to reimpose sanctions on vital Iranian oil sales to force Tehran to curb its nuclear, missile and regional activities.

Foreign Minister Mohammad Javad Zarif spoke by telephone with the European Union’s foreign policy chief, Federica Mogherini, and his counterparts from Germany, Sweden and Denmark about European measures to counter the U.S. sanctions, the Iranian state news agency IRNA reported.

“Mogherini and the European ministers … highlighted the importance of the finance ministers’ commitment to Europe’s financial mechanism to save the Iran nuclear deal and said the mechanism will be operational in the coming days,” IRNA said.

Washington will reapply far-reaching sanctions on Iran’s petroleum and banking sectors starting on Monday.

Diplomats told Reuters last week that the new EU mechanism to facilitate payments for Iranian exports should be legally in place by Nov. 4, when the next phase of U.S. sanctions hit, but will not be operational until early next year.

Read more at : https://www.investing.com/news/commodities-news/iran-seeks-european-assurances-as-us-oil-sanctions-loom-1672907

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