The creation of a new transaction system for trade with Iran is intended to save the nuclear agreement with Tehran. It would prevent banks from becoming targets of US sanctions themselves.
Bill Browder has spent nine years campaigning to punish Russian officials responsible for killing his friend Sergei Magnitsky. He hopes Moscow's increased aggression will convince Europe it's time to act.
The new measures target 700 individual and entities in the financial, shipping and energy sectors. Eight countries, including Turkey, will be given waivers to keep buying Iranian oil.
On Monday, fresh US sanctions against Iran come into effect, the next salvo in its economic conflict with Tehran. The main targets are oil exports and the financial sector. Europe is having difficulty forming a response.
An already-reeling Iran is preparing for the United States to reimpose all pre-2015 sanctions. The European Union has declared a general intent to assist Iran, but concrete steps in that direction are not yet evident.
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