Wall Street Journal reported a few days ago:
(paraphrase) Secretary General of the European External Action Service (EEAS), Helga Schmid, held a meeting to announce that Europe has found a way of circumventing U.S. sanctions on Iran. The meeting was attended by representatives of China, France, Germany, Russia, the United Kingdom, and Iran.
The governments of France, Germany and the United Kingdom have developed a special purpose vehicle called INSTEX to enable European businesses to maintain non-dollar trade with Iran without breaking U.S. sanctions.
INSTEX bypasses SWIFT, which includes US banks and US Dollars,