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U.S. Senators Call On EU To Close 'Loophole' In Iran Sanctions

European Council President Herman Van Rompuy
WASHINGTON – A group of U.S. senators has called on the European Union to close what they call a "significant loophole" in the bloc's Iran sanctions legislation.

In a February 25 letter to European Council President Herman Van Rompuy, the 36 senators said Iran may be using the European Central Bank to convert euros in its foreign accounts into local currencies, circumventing Western sanctions.

They said that could "free up significant funds to finance Iranian imports, stabilize Iran’s monthly budget, and allow the regime to continue to engage in sanctionable and illicit activities."

The letter came on the eve of talks between Iran and world powers in Kazakhstan focused on Iran's nuclear program, which the West says is aimed at achieving weapons capability.

Iran says its program is peaceful.

With reporting by Reuters
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