The entity, INSTEX, will allow EU companies to trade with Tehran despite US sanctions after President Trump pulled out of 2015 nuclear deal.
British Foreign Secretary Jeremy Hunt's recent visit to Iran is not likely to result in much unless the UK can help the Iranians soften the blow from US sanctions.
Russia, China and Turkey have reasons why they would never consider a boycott on Iranian oil. They are waiting for the vitriol from Trump to turn on the EU – and in turn towards NATO.
The renewed pressure on Iran has emboldened hardliners within the country and pushed reformists against the wall.
Trump may be bluffing, but is the European Union just having a massive sulk? Could it all be resolved if a few EU leaders just gave the EU's foreign affairs office a little more respect?
German Chancellor Angela Merkel leaves the White House, seemingly unable to secure a promise from US President Donald Trump to stay in the Iran nuclear deal or to provide a permanent European exemption to trade tariffs.
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