Iran Rebukes EU on Trade Channel Set Up to Avoid U.S. Sanctions

Iran’s central bank criticized a European Union payment channel designed to allow European companies to avoid U.S. sanctions, portraying it as useless and saying Iran won’t be diverting resources to it.

European governments have “no idea” how to finance the conduit set up two years ago, known as Instex, and “have not had enough courage to maintain their economic sovereignty,” the Central Bank of Iran said in comments on Twitter.