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Romania will participate in EU-Iran trade mechanism

Mechanism will allow European companies to do business with Iran, bypassing US sanctions.

Romania will participate in EU-Iran trade mechanism
Romanian Foreign Minister Teodor Meleșcanu. Photo: Agerpres.

Articol de Carmen Gavrilă, 01 Februarie 2019, 22:33

Romania will participate in the European Union's trade mechanism with Iran, Foreign Minister Teodor Meleșcanu announced at the informal meeting in Bucharest of EU Foreign Ministers. Mechanism will allow European companies to do business with Iran, bypassing US sanctions. The so-called Trade Facilitation Tool is intended especially for European small and medium-sized enterprises, which can thus send mainly medicines, medical devices and food to Iran, according to RRA Reporter Carmen Gavrilă.

RRA Reporter: Practically, this tool allows transactions in euros, bypassing the dollar-dominated international financial system, but the instrument does not also apply to oil transactions, which Iran dislikes, because its economy is based on oil.

Foreign Minister Teodor Meleșcanu said that Romania will also be involved in this mechanism.

Foreign Minister Teodor Meleșcanu: We are one of the countries that is concerned and wants to address, besides problems of the Nuclear Arrangement with Iran, other topics which are relevant to EU’s relations with Iran and countries in the area. It's the Ballistic Missile Program, it's the political involvement in a series of conflicts in the Near East which will also be the subject of further talks.

RRA Reporter: In a special session today, attended by Foreign Ministers from the Balkan countries, talks have focused on prospects for Western Balkan countries to join the EU. Romania would like to reach a consensus on a clearer view in reference to the Western Balkans by the end of its EU Presidency.

European ministers have also expressed concern on the expected announcement of US President Donald Trump regarding US withdrawal from the Interim Nuclear Forces Treaty concluded during the Cold War, claiming Russia violated this treaty by developing new missiles.

Many European ministers, particularly from the East, criticized Russia for violating the treaty and all the ministers present in Bucharest urged a dialogue between the United States and Russia to avoid the collapse of the treaty, which would open the door for a new arms race.

Source:RRA.Translated by Miruna Matei

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