Re:Huawei builds up 2-year reserve of 'most important' US chips
by DiogenesKynikos on Saturday May 30, 2020 @06:40PM
(#23365466)
"Working very hard" is really giving them too much credit. The parallel payment system, INSTEX, has done almost nothing to actually facilitate trade with Iran.
The EU set up this system in order to say that they were doing something, but the practical consequences for trade have been approximately zero. That's why Iran decided to stop abiding by the terms of the nuclear agreement. European companies refuse to do business with Iran because of US sanctions, so the fact that the EU lifted its nuclear-related sanctions doesn't bring Iran any relief in reality.
The EU set up this system in order to say that they were doing something, but the practical consequences for trade have been approximately zero. That's why Iran decided to stop abiding by the terms of the nuclear agreement. European companies refuse to do business with Iran because of US sanctions, so the fact that the EU lifted its nuclear-related sanctions doesn't bring Iran any relief in reality.