The analyst suggested how the EU will bypass the US sanctions against Iran

© RIA Novosti / Alexei Vitvitskiy fotobanka in the USA and the EU. Archival photoThe analyst suggested how the EU will bypass the US sanctions against Iran© RIA Novosti / Alexei Vitvitskiy the image Bank

A special purpose company (SPV) for the sale of Iranian oil, which should help the EU to circumvent US sanctions against Iran, likely to work, avoiding cash payments and using direct barter — the exchange of oil for goods, said in an interview with RIA Novosti, the portfolio Manager Principal Investors Kyle Shostak.

However, in his opinion, even this construction in a modern and transparent trading schemes will be very fragile.

On the sidelines of the UN General Assembly «five» of international mediators and Iran chaired by head of the EU diplomacy Federica Mogherini confirmed that Iran complies with nuclear deal. Also, the EU announced the creation of a special mechanism, which will allow European companies to continue business with Iran, despite the US withdrawal from the agreement and the threat of us sanctions.

Sanctions with barter

Shostak notes that for deep Analytics trading scheme with Iran in the framework of the company a little technical detail, «simply no, the discussion has not yet emerged on such a substantive level.» What is clear is that this SPV is created for special purposes. In this case, in order to sell Iranian oil.

According to him, it is clear that the participants will endeavour to reduce dollar transactions within the framework of this enterprise, to avoid the risk of involvement in a scheme of intermediary banks in USA. But European banks may come under us sanctions for direct and indirect participation in such transactions, he said.

«That’s probably can work is a direct barter. You I oil – I you the goods at a predetermined price», — says the interlocutor of RIA Novosti.

It may work in the following way: participants in this company are the representatives of the European Union (a large company), Iran, maybe China and India. «It is the main buyers of Iranian oil. Russia in this case not the consumer. Of the Russian Federation, rather, resell Iranian oil to cover their supply commitments,» says Shostak. Therefore, the Agency does not expect that this scheme will be presented to Russia.

The protection in question

«Apparently, it is assumed that SPV under the European regulation, will protect these participants from the U.S. sanctions. But in the world of financial sanctions authorized everything, including any such organization, its accounts and banking operations and its beneficiaries,» continued Shostak.

«It is unlikely that the United States in its desire to apply these sanctions will stop only on the company itself or afraid of the European jurisdiction for the imposition of sanctions. And you know, all this talk about the SPV — the lexicon of the 2008 crisis. They were very popular for the withdrawal of assets. These structures have undergone significant changes after the crisis. Regulators around the world look at it under a giant magnifying glass. So I have serious doubts that such a structure will be effective,» he concludes.

Do not forget, never forgive

Advisor to the President for national security John Bolton following statements by Mogherini assured that the US will not allow the EU or anyone else to circumvent us sanctions against Iran. In turn, the U.S. Secretary of state Mike Pompeo said that the establishment of a special mechanism that will allow European companies to continue business with Iran is counterproductive to world order. On Wednesday at a UN security Council meeting on non-proliferation, US President Donald trump said that Washington would continue to impose tough sanctions against the entire spectrum of «malicious» activities of Iran.

Iran and «six» of international mediators (Russia, USA, Britain, China, France, Germany) July 14, 2015 reaching an agreement on the settlement of the longstanding problem of the Iranian atom: adopted a Joint comprehensive plan of action (SVPD), which was removed from Iran’s previously imposed economic and financial sanctions by the UN security Council, US and EU.

Trump announced in may that Washington is out of agreement with Iran on its nuclear program. Trump also announced the restoration of all sanctions against Iran including secondary, that is, against other countries doing business with Iran. Other members of the six opposed this step of the United States. The remaining nuclear deal the state develop measures that will protect the companies from us sanctions for cooperating with Iran.

Once again, the U.S. has enacted on August 7 some of the sanctions against Iran. More substantial sanctions, which will cover the export of petroleum products will come into force on 5 November. The EU does not recognize the re-introduction of US sanctions and does not allow European companies to run them, however, companies in the EU is still the de facto curtail business with Iran, fearing American secondary sanctions.

The analyst suggested how the EU will bypass the US sanctions against Iran© RIA Novosti, Infographicsrussia against Iran