Europe looks to thwart Trump’s Iran sanctions

Europe’s biggest economic powers are planning to create a “special purpose” financial company to thwart U.S. President Donald Trump’s sanctions and help Iran to continue to sell oil in the EU. The move, by France, Germany and Britain, and supported by the EU, is likely to enrage Trump, who in May unilaterally withdrew from the Iran nuclear accord, which the Europeans, Russia and China continue to support and have pledged to do their utmost to protect. A first battery of renewed U.S. economic sanctions took effect against Iran last month, and further sanctions — including sanctions on the Iranian oil sector, a mainstay of the country’s economy — are set to take hold in November. Read here more