EU Special Purpose Vehicle for trade with Iran likely to affect sanctions: US

The United States does not expect a Special Purpose Vehicle (SPV) being set up by European nations to facilitate trade with Iran to affect its "maximum economic pressure" campaign against Tehran, a U.S. State Department spokeswoman said on Thursday.

"We do not expect the SPV will in any way impact our maximum economic pressure campaign," said the spokeswoman on condition of anonymity, saying the department was closely following reports about the SPV to learn more about the mechanism. She also said entities that engage in sanctionable activity with Iran risk losing access to the U.S. financial system and the ability to do business with U.S. companies.