France’s Foreign Minister Jean-Yves Le Drian said that the European Union has made some progress on measures to protect the bloc’s companies from US sanctions on Iran but these were still insufficient.
“We have moved forward on one point, which is the implementation of a European rule that dates from 1996 which we have modernized and allows us to protect our firms against this American pressure, but that is not enough,” Reuters quoted him as saying on Thursday.
Le Drian highlighted the need to create efficient financial mechanisms other than dollar, whether in euros or other currencies, so as to help firms dealing with Iran and to facilitate Iran’s oil exports.