BRUSSELS: *European Union moves to ditch US dollar for Euro, it has beenrevealed.*
The European Union is seeking new ways to widen the use of the euro andcounter the dollar’s global dominance, top EU officials said on Thursday,as the bloc tries to salvage Iran’s nuclear deal by helping companiesbypass US sanctions.
Fears they will be hit with sanctions have pushed European corporations tosuspend their dealings with Iran after Washington pulled out of the nuclearaccord last year. The EU has tried to defend the pact signed with worldpowers in 2015 by offering firms alternative ways to trade with oil-richIran.
Because the dollar is the world’s dominant currency, European officials andbusinessmen are aware that financial threats by the United States cannot beoverlooked, even when they rest on controversial legal grounds.
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“You simply don’t want to take the risk,” said a manager at a top Europeancompany.
