Germany calls for end to US dominance in global finance

Foreign Minister Heiko Maas on Wednesday proposed measures against U.S. dominance in global finance amid a growing row between Washington and Berlin over the Iran nuclear deal.

In an article he wrote for daily Handelsblatt, Maas slammed American President Donald Trump for imposing unilateral sanctions on Iran, without consulting European allies.

“It is essential that we strengthen European autonomy by establishing payment channels independent of the U.S., a European monetary fund and an independent SWIFT [payment] system,” he said.

Maas also called on EU partners to maintain their unity and pursue a common policy towards the U.S. in the ongoing row over sanctions.

“In this situation, it is of strategic importance that we make it clear to Washington that we want to work together.

"But also: That we will not allow you to go over our heads, and at our expense. That is why it was right to protect European companies legally from sanctions,” he said.