Europe, China and Russia to provide financial aid to Iran, claims a German daily

Berlin: Europe, China and Russia have made preparations to provide financial aid to help Iran to cope with the harsh sanctions imposed on it by the United States. A German newspaper claimed that decision on this matter will be taken in the meeting to be held in Vienna next week. The European Union has already indicated to conduct trade with Iran in Euro, to bypass the United States’ sanctions.

Last week, the United States under the leadership of President, Donald Trump imposed harsh sanctions against Iran. This has rendered a major blow to Iran as well as to the European countries dealing with Iran. The European countries are making efforts on various fronts to escape from these sanctions.

The European countries have decided to conduct oil trade with Iran in Euros instead of the US Dollar. The European Union has also suggested dealing directly with the Central Bank in Iran to avoid the United States’ sanctions. Thus, according to the European Union, these sanctions will have no effect either on Iran or the European companies.

But to stop Iran from manufacturing ballistic missiles and from interfering in the Gulf region, Europe, China and Russia have made preparations to provide financial aid to Iran. The German newspaper claimed that the western countries may even sign a new agreement with Iran, for this purpose. Germany, France, United Kingdom, Russia, China and the European Union are scheduled to meet in Vienna next week, to discuss the issue. If this becomes a reality, there will be a new challenge to the United States’ sanctions against Iran, from Europe, China and Russia.

The European countries also have to face the challenge of sustaining the Iranian nuclear deal. Iran has given the European nations a timeline of 45 to 60 days for this purpose. The European countries have expressed confidence that they will make all efforts to save the nuclear deal signed in 2015. But, Iran has warned that if the European countries fail to save the deal, Iran will produce 20% enriched Uranium in the next few days, after withdrawing from the nuclear deal.