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September 26, 2018 9:06 am

Pompeo Criticizes EU Plan for Special Iran Payment Channel

avatar by Reuters and Algemeiner Staff

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US Secretary of State Mike Pompeo. Photo: Reuters/Aaron Bernstein.

The European Union’s plans for a “special purpose vehicle” (SPV) designed to circumvent US sanctions against Iran’s oil exports is deeply counterproductive, US Secretary of State Mike Pompeo said on Tuesday.

“Unfortunately, just last night I was disturbed and indeed deeply disappointed to hear remaining parties in the Iran (nuclear) deal announce they are setting up a special payment system to bypass US sanctions. This is one of the most counterproductive measures imaginable for regional global peace and security,” Pompeo said at conference. “By sustaining revenues to the regime you are solidifying Iran’s ranking as (the) No. 1 state sponsor of terror.”

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