Despite the obstructionist attitude of US President Donald Trump, the European Union does not withdraw and, backed by Russia and China, will continue its commercial relations with Tehran, bypassing the sanctions that Washington has imposed on the country.
In the course of 'UN General Assembly of the 26 September, a leading role was played by the head of European diplomacy Federica Mogherini. In the presence of the Iranian Foreign Minister Javad Zarif, the High Representative for the EU Foreign and Security Policy pointed out that EU Member States will establish a legal entity (Special Purpose Vehicle or Spv) to facilitate legitimate financial transactions with Iran.
This, according to Mogherini, "will allow European companies to continue trading with Iran in accordance with EU legislation" and the mechanism could be "open to other partners in the world".
The details of the Special Purpose Vehicle - mechanism that will guarantee to those who adhere to it, among other things, also the possibility of continuing to buy oil from Teheran, bypassing the US sanctions - will be discussed at a technical level within a short time, added Mogherini.
Last May 8 US President Donald Trump announced the unilateral withdrawal from the agreement and the re-establishment of sanctions against Tehran. The decision was made despite Iran's compliance with the decision-making guidelines, reducing its nuclear program, as confirmed also during the various inspections carried out by the officials of the Atomic Energy Agency.
As a result of the reinstatement of sanctions, some large European oil companies, including Total, had decided to forgo doing business with Iran in order not to incur the negative external effects of US sanctions.
But despite this, the EU and other signatories seem determined to move forward. And it seems to hold up for now that agreement that Mogherini had defined in June as a test for the "maintenance of the multilateral system", to avoid that what is "decided multilaterally can be destroyed unilaterally".
The United States must not have taken it very well. Speaking to journalists at the end of the Assembly, the US Secretary of State, the former Californian military Mike Pompeo, declared that "This is one of the most counterproductive measures that can be imagined for regional and global peace and security".