European banks, businesses warned by US official not to work with Iran
A US official is warning investors, banks and businesses in Europe not to work with Iran in the wake of the United States’ unilateral pressure on Tehran.
“If you’re a bank, an investor, an insurer or other business in Europe, you should know that getting involved in the INSTEX special purpose vehicle is a very poor business decision,” Tim Morrison, the National Security Council’s senior director for weapons of mass destruction and biodefense, said at a Foundation for Defense of Democracies on Wednesday.
The European Union has been trying to launch the Special Purpose Vehicle (SPV) to allow its companies to continue business with Iran despite US sanctions, yet to no avail so far.
Morrison made the comments after Tehran informed the five remaining signatories to the 2015 nuclear deal of its decision to suspend the implementation of some of its commitments under the multinational agreement.
Morrison described the measure as "nothing less than nuclear blackmail of Europe," further threatening that those not complying with US sanctions "will be found and held accountable."
The White House senior official added that the US will impose more sanctions on Iran “very soon,” in the wake of Tehran’s curbs on its role in the Joint Comprehensive Plan of Action (JCPOA), from which US President Donald Trump pulled out last year.
“They’re very clear in their messaging even this morning. They want to see progress made on the special purpose vehicle, they want to see a resumption of oil, or they will walk away from the obligation that they took on. Europe should resist it and drive Iran to the table to come to a deal,” Morrison said.
According to Iranian Foreign Minister Mohammad Javad Zarif, Iran is not doing anything against JCPOA now; rather, it is acting totally within the framework of Articles 26 and 36 of the deal, signed in 2015.
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