PARIS/VIENNA/BRUSSELS (Reuters) - A special European Union initiative to protect trade with Iran against newly reimposed U.S. sanctions faces possible collapse with no EU country willing to host the operation for fear of provoking U.S. punishment, EU diplomats said.
The main European powers - Germany, France and Britain - will raise pressure on Luxembourg to host the so-called Special Purpose Vehicle (SPV) after Austria refused to manage the plan, threatening its viability.
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