Reuters - The U.S. embassy in Germany said on Thursday it was seeking additional details about a new European mechanism to facilitate non-dollar trade with Iran, but did not expect it to affect its effort to apply maximum economic pressure on Tehran.

“As the president has made clear, entities that continue to engage in sanctionable activity involving Iran risk severe consequences that could include losing access to the U.S. financial system and the ability to do business with the United States or U.S. companies,” a spokesman for the embassy said.

“We do not expect the SPV (Special Purpose Vehicle) will in any way impact our maximum economic pressure campaign,” he added. (Reporting by Andrea Shalal Editing by Michelle Martin)