EU payments channel for Iran to act as monetary agreement

TEHRAN, Oct. 27 (MNA) – Governor of Central Bank of Iran (CBI) said Fri. that the EU’s financial mechanism to ease trade transactions with Iran will act as a bilateral monetary agreement, allowing exporters to receive their foreign exchange earnings through it.

Abdolnaser Hemmati wrote in a post on Friday that the details of a new European Union mechanism to facilitate payments for Iranian exports were discussed in the last week’s meeting in Brussels.

The establishment of this payments channel is based on this common understanding that both Iranian and European companies and businesses are eager to maintain and continue trade ties with one another despite the US’ unilateral withdrawal from the JCPOA, the CBI governor added.

He maintained that the EU financial mechanism is designed to circumvent issues related to financial transactions, adding that the mechanism would make it possible for Iranian and European exporters to receive the foreign exchange earnings from their exports.

“The payments channel will act as a bilateral monetary agreement between Iran and the European Union, therefore both sides are pressing for its implementation as soon as possible,” Hemmati added.

He said the details of the payments channel and the way to operate it are expected to be disclosed to the public and businesspeople in the near future.

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News Code 139065

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