A Professor in the Anthropology Department of McMaster University John Colarusso said that INSTEX will certainly help maintain trade in essential items at first and perhaps in a broader range of items later.
He said to ILNA news agency in an exclusive interview that US President is in serious domestic trouble and the Europeans may calculate that serious counter measures from the US will be held up by domestic turmoil until 2020.
“Certainly, US reactions against INSTEX are seen as one more instance of the US spurning its traditional European ties.”
The Professor said “Trump means the end of America’s world leadership.” Adding, “The Europeans, Russians, Chinese and Iranians must be prepared for a successor of Trump who will wipe his efforts away. United States might then rejoin the nuclear deal (JCPOA).”
“In reality Trump was trying to undo this aspect of Obama’s legacy,” he added.
Answering to question about Europe and Iran engagement in spite of US threats, the analyst said “Yes, but there will be some impact. Commercial interests, much as political ones, are waiting for a major change in 2020.”
“Those that seek trade with the US have probably already largely broken off trade with Iran. So, Trump’s actions and those of Bolton, who has a long history of animosity toward Iran, are causing a sort of evolution of European companies into those that want to trade with the US and those willing to continue to trade with Iran under JCPOA."