France or Germany will host the corporation that would handle the payments channel , the diplomats said. If France hosts it, a German official will head the corporation and vice versa. Both countries will help fund the corporation. The payments channel, known as a special purpose vehicle, or SPV, would use a system of credits to facilitate compensation for goods traded between Iran and Europe—allowing some trade to proceed without the need for European commercial banks to make or receive payments to Iran. Related Video Your browser does not support HTML5 video. 0:00 / 0:00 Skip Ad in 15 A combination of machine learning, big data and tens of millions of satellite images of the planet each day is bad news for carriers of Iranian crude oil trying to evade U.S. oil sanctions. Here’s why. Washington has deterred other countries from hosting the company with repeated warnings that doing […]