NEWS
ECONOMY  

Official Says EU May Start Using SPV for Trade with Iran Soon

Iranian Deputy Foreign Minister Seyyed Abbas Araqchi said Tehran and the European Union are in close touch on SPV (Special Purpose Vehicle for trade) mechanism as EU hopes start using the conduit soon.

"Despite the US unilateral withdrawal from the Joint Compressive Plan of Action (JCPOA), the European Union has introduced special financial mechanism for trade with Iran in a bid to confront the negative impact of the US illegal sanctions," Araqchi said.

He noted that Europe wants to facilitate Iran-Europe payments through Special-Purpose Vehicle after the US illegal sanctions on Iran, and some unanticipated problems.

Araqchi added that there are no special conditions for Iran to participate in the SPV; however, under the mechanism there are some rules which the Iranian banks need to follow to implement the financial system.

In relevant remarks late November, Iranian Vice-President and Head of the Atomic Energy Organization of Iran (AEOI) Ali Akbar Salehi condemned the US pullout of the 2015 nuclear agreement and its pressure on other signatory states to reinstate the sanctions, and asked for efforts to find ways to continue cooperation even under US pressure.

Salehi made the remarks on Monday while addressing the 3rd High-level Seminar on International Nuclear Cooperation underway in Brussels.

Reminding that the International Atomic Energy Agency (IAEA) has confirmed Iran's compliance to its commitments for thirteen consecutive times, Salehi asserted that the US' moves with excuses like accusing Iran of violating the agreement seems illogical to all independent countries.

He underlined that he did not intend to talk about the "ill-wished" behavior of the US, emphasizing that the meeting is aimed to increase Iran-Europe cooperation on expanding peaceful atomic energy.

News No: 2820
Date: 2018/12/06 - 13:50
News Source: FARS News Agency

EU  SPV  Seyyed Abbas Araqchi  trade  JCPOA 

Comments:

Leave a Comment:

   
   
   
 

EU Urged to Press US on Airbus Deliveries

Iran has called on the European Union to press US authorities to allow the delivery of Airbus passenger aircraft purchased by Tehran.
 

Indonesian thermal coal prices hold steady: Correction

Indonesian thermal coal prices held steady in a thinly traded market, with little in the way of firm transactions coming to light.
 

Official: Iran, Iraq in Talks for Trade in Own Currencies

The central banks of Iran and Iraq are finalizing negotiations to begin trade in their own currencies, chairman of Iran-Iraq Chamber of Commerce said.
 

Iran Stands Firm on Plane Contracts: Official

The CEO of Iran Air stressed that the country would push for the delivery of the passenger planes it has purchased from Airbus.
 

Iran Ups Agro Exports by 59 Percent in 8 Months

Iran has considerably increased its export of agricultural products in the first eight months of the current Iranian year (March 21, 2018-November 22, 2018), a senior trade official announced.
 

Procrastinated SPV Weakening Iran’s Public Trust in Europe

The awaited European Union’s promise to establish the Special Purpose Vehicle (SPV) for carrying out financial transactions with Iran has not been put into place, Head of Iranian Parliament's Research Center Kazem Jalali said on Saturday, adding that EU’s procrastination is undermining public trust in Europeans.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners