Economics
Treasury Official Doubts EU Can Sidestep U.S. Sanctions on Iran
- U.S. recently put sanctions on Iran’s oil and banking sectors
- EU countries have discussed a workaround to avoid penalties
Sigal Mandelker
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
The U.S. Treasury Department’s top sanctions official brushed aside European threats to build a workaround to evade President Donald Trump’s penalties on Iran’s oil and banking sectors.
Sigal Mandelker, Treasury’s undersecretary for terrorism and financial intelligence, kicked off a swing through European capitals to drum up support for the Iran sanctions by casting doubt on European efforts to develop a “special purpose vehicle,” or SPV, to keep funds flowing to Iran without using the U.S. financial system.