MNA � France is likely to register a legal entity whose purpose would be hosting a financial channel to help Iran evade US sanctions, a diplomatic source told Russian Sputnik Mon.

France is likely to register a legal entity whose purpose would be hosting a so-called Special Purpose Vehicle (SPV) to evade US sanctions against Iran, a diplomatic source in Brussels told Sputnik on Monday.

"As far as I know, a legal entity to host the SPV will be created, it could be registered in France.

The official announcement is expected by the end of January," the source said.

In September 2018, following a ministerial meeting on the sidelines of the UN General Assembly, the United Kingdom, Germany, France, China, Russia and Iran announced that the European Union would establish a mechanism to ensure financial transactions with Iran after Washington's decision to reimpose sanctions on Tehran.