European banks, businesses warned by US official not to work with Iran | WHAT REALLY HAPPENED

European banks, businesses warned by US official not to work with Iran

A US official is warning investors, banks and businesses in Europe not to work with Iran in the wake of the United States’ unilateral pressure on Tehran.

“If you’re a bank, an investor, an insurer or other business in Europe, you should know that getting involved in the INSTEX special purpose vehicle is a very poor business decision,” Tim Morrison, the National Security Council’s senior director for weapons of mass destruction and biodefense, said at a Foundation for Defense of Democracies on Wednesday.

The European Union has been trying to launch the Special Purpose Vehicle (SPV) to allow its companies to continue business with Iran despite US sanctions, yet to no avail so far.

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