EU looking to sidestep U.S. sanctions with payment system plan

Section:

By William Horobin and Birgit Jennen
Bloomberg News
Monday, August 27, 2018

Germany and France said they're working on financing solutions to sidestep U.S. sanctions against countries such as Iran, including a possible role for central banks.

The discussions, which also involve the U.K., are a signal that European powers are trying to get serious about demonstrating greater independence from the U.S. as President Donald Trump pursues his "America First" agenda.

... Dispatch continues below ...



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"With Germany, we are determined to work on an independent European or Franco-German financing tool that would allow us to avoid being the collateral victims of U.S. extra-territorial sanctions," French Finance Minister Bruno Le Maire said today during a meeting with press association AJEF. "I want Europe to be a sovereign continent, not a vassal, and that means having totally independent financing instruments that do not today exist." ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2018-08-27/eu-looking-to-sideste...

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