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bne November 2018
Opinion 57
The ruling is a decision on provisional measures. It could take the court years to come to a final decision on the entire lawsuit.
Pompeo told a press briefing the ruling “marked a useful point for us to demonstrate the absolute absurdity of the Treaty of Amity between the United States and the Islamic Republic
of Iran". The US was "disappointed" that the ICJ "failed to recognise that it has no jurisdiction to issue any order relating to these sanctions measures with the US, which is doing its work on Iran to protect its own essential security interests".
Pompeo added that Washington would work to ensure it provides humanitarian assistance to the Iranian people.
Iranian Foreign Minister Mohammad Javad Zarif called the court decision "another failure for the sanctions-addicted” US government. It was a “victory for the rule of law", he added. Iran’s Foreign Ministry said the ruling proved "the US sanctions against people and citizens of our country
are illegal and cruel".
Europe's help "better than expected"
Joining in Rouhani’s praise of Europe – the EU and major power signatories that remain in the nuclear deal, namely the UK, France, Germany, Russia and China object to the US ending its participation in the nuclear deal, pointing out that the Iranians have honoured their side of the agreement –
Zarif told the BBC on October 3 that support from Europe to preserve economic ties with the Islamic Republic in the face of the American pressure had proved “better than expected”.
“To maintain financial and monetary relations in Iran, Europe has formed a special body... Europe has taken a big step,” Rou- hani was quoted as saying by Tasnim news agency, in a refer- ence to the EU effort to create a Special Purpose Vehicle (SPV) that will facilitate foreign trade with Iran while protecting trad- ers from the secondary sanctions reach of the US. Brussels says the SPV might be ready for initial trading by early November.
Rouhani, a pragmatist and centrist who entered into the nuclear accord despite howls of protest from hardliners who said the US could not be trusted, added that the Trump administration was “extremely angry” with Europe’s decision.
European diplomats have described the SPV proposal as a means to create a sophisticated barter system, similar to one used by the Soviet Union during the Cold War. Iranian crude oil is to be exchanged for European goods without money chang- ing hands. For example, Iran could ship oil to a German firm and the credit generated by that transaction could then be used to pay a French manufacturer for goods shipped the other way. There would be no transparency as to who is using the system.
Countries outside Europe might be invited to use the mechanism.
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