Der Spiegel in Germany on 13th September reported that that Germany, France and UK will create a “special-purpose entity” that will allow EU oil importers and other companies to finance their business with Iran — circumventing banks and other traditional channels, and hence US sanctions.  A French idea, the new vehicle will not be a bank, but will have the legal form of a so-called special purpose vehicle. (in German)

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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