Tyler Durden of ZeroHedge –

Three weeks after a meeting among the countries that signed the Iran nuclear deal (known as the Joint Comprehensive Plan of Action or JCPOA) – and which was ditched by the US – French, British and German officials said the trade mechanism proposed last summer, designed to circumvent both SWIFT as well as US sanctions banning trade with Iran, is now operational.

And while we wait for the White House to threaten Europe with even greater tariffs unless it ends this special purpose vehicle – it already did once back in May when it warned that anyone associated with the SPV could be barred from the US financial system….

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