Economics
EU Looking to Sidestep U.S. Sanctions With Payments System Plan
- Europe must avoid being ‘vassal continent’: French minister
- Goal is to maintain business ties with nations like Iran
Bruno Le Maire and Olaf Scholz
Photographer: Alain Jocard/AFP via Getty Images
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Germany and France said they’re working on financing solutions to sidestep U.S. sanctions against countries such as Iran, including a possible role for central banks.
The discussions, which also involve the U.K., are a signal that European powers are trying to get serious about demonstrating a greater level of independence from the U.S. as President Donald Trump pursues his “America First” agenda.