EUROPE - The European Union is preparing to create a new payment mechanism to allow continued trade with Iran, despite US sanctions being reimposed over the country’s nuclear programme, in a direct challenge to US President Donald Trump. On Monday, EU foreign policy chief Federica Mogherini confirmed plans to construct the alternative channel are going ahead. She commented: “I expect this instruction to be established in the coming weeks before the end of the year as a way to protect and promote legitimate business.” In October European Commission President Jean-Claude Juncker reiterated the EU’s support for the deal. He commented: “We are sticking to the agreement with Iran. We have locked ourselves in the dark room of unanimity.”