Stung by U.S. sanction threats, EU seeks ways to boost the euro


  • World
  • Friday, 17 May 2019

FILE PHOTO - U.S. dollar and Euro notes are seen in this November 7, 2016 picture illustration. REUTERS/Dado Ruvic/Illustration/File photo

BRUSSELS (Reuters) - The European Union is seeking new ways to widen use of the euro and counter the dollar's global dominance, top EU officials said on Thursday, as the bloc tries to salvage Iran's nuclear deal by helping companies bypass U.S. sanctions.

Fears they will be hit with sanctions have pushed European corporations to suspend their dealings with Iran after Washington pulled out of the nuclear accord last year. The EU has tried to defend the pact signed with world powers in 2015 by offering firms alternative ways to trade with oil-rich Iran.

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