"I assume that all European companies with a significant US business will not be impressed by this newly created legal entity. They will remain concerned that they may be imposed to direct or indirect sanctions if they do any business with Iran not allowed by the US. I, therefore, do not expect that the establishment of this new legal entity will have any significant impact on the trading of European companies with Iran," Dr. Hartwig said.
READ MORE: ‘Maintaining Financial Payment Channels': Europe Defies Trump's Iran Sanctions
The lawmaker stressed that nevertheless the establishment of the SPV to facilitate trade with Iran was a clear step by Brussels against the interests of the United States.
"It will not go unanswered. It is the first time since decades that important member states of the EU are contradicting the US so openly," Dr. Hartwig added.
Mogherini explained that the legal entity would be established to enable European companies to continue legitimate transactions with Iran in accordance with the EU legislation.
In May, US President Donald Trump announced his decision to withdraw from the Iran nuclear deal and impose new sanctions against Tehran and third states doing business with Iran. The US move was condemned by other signatories to the agreement, who have expressed their commitment to preserving the deal.
The views expressed by Dr. Roland Hartwig in this article are those of the speaker and do not necessarily reflect those of Sputnik.
