US warns Europe not to develop barter system to evade Iran sanctions

Published



American officials have issued a warning to European nations that they risk falling foul of sanctions on Iran if they press ahead with a barter system that could allow the export of Iranian oil.

Last week, Russia signaled it was interested in joining the mechanism, known as Instex, as part of an effort to resuscitate a 2015 nuclear deal abandoned by President Trump last year.

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