'Europe should not allow the US to act over our heads': Germany is challenging the US's financial monopoly as the Iran row deepens
Germany's foreign minister has challenged the US monopoly on the global payments infrastructure. Writing in the German daily Handelsblatt on Tuesday, Heiko Maas said: "It is indispensable that we strengthen European autonomy by creating payment channels that are independent of the United States."
"It is high time to re-evaluate our partnership," he said.
European businesses have been caught between the European Union and the US over trade with Iran amid US sanctions.
The French energy giant Total officially pulled out of the country on Monday under US pressure.