Ticker
US warns EU banks and firms against trading with Iran
By EUobserver
Banks and firms participating in a special EU initiative to protect trade with Iran risk US sanctions, US special envoy for Iran, Brian Hook, warned in Brussels Thursday. The EU is working on a 'Special Purpose Vehicle' (SPV) to enable European non-dollar trade with Iran to preserve a nuclear arms control treaty. Brussels wanted the SPV in place this month but no country has offered to host it, Reuters reported.