mo4ch:>EU dependency on US stalling alternative payment channel – Iran | Mo4ch News

Brussels has still not introduced an independent payment channel to bypass American sanctions against Iran because of dollar dominance and the reliance of the European economy on the US, a top Iranian diplomatic official said.The European Union vowed to keep doing business with the Islamic Republic after the US withdrawal from the landmark nuclear agreement, signed between Tehran and major world powers, which prompted the re-introduction of punitive measures against Iran last year.The 28-nation bloc has been working on the creation of a clearing house, known as a special purpose vehicle (SPV), to facilitate financial transactions and non-dollar trade with Iran. In December, the EU’s foreign policy chief said she expected the mechanism to be established before the end of 2018. However, no further significant progress has been made since then.Also on rt.comIran has new ‘potential’ buyers for its oil, defying US sanctionsMeanwhile, Tehran’s patience is wearing thin and it is time for Bru…