EU To Switch From US Dollar to Euro on Oil Trades From Iran
May 17, 2018
EU To Switch From US Dollar to Euro on Oil Trades From Iran - TruePublica

OilPrice.com the industry sector news outlet has just reported that the “EU Could Switch To Euros In Oil Trade With Iran” and so has the International Business Times.
Europe To Pay Iran In Euros For Oil, Abandoning The Dollar

Other measures are being considered. The 1996 Blocking Statute, which prohibited European companies from complying with US extraterritorial laws may be restored.
Iran, Trump - The Old Empire Strikes Back - TruePublica

Twenty years ago, when the Clinton administration threatened sanctions against European companies in the same Iran sanctions battle against Europe, the EU passed these blocking statutes giving companies cover to continue with business as usual.

Clinton was forced to back down. The George W. Bush administration kept the sanctions on the go but did not enforce them for fear of sparking a trade war with Europe.

Some EU banks have declared they are already in a position to provide trading services to European corporations wishing to do trade with Iran.