Araghchi says FATF is a requirement for SPV

TEHRAN, Dec. 04 (MNA) – Iran’s Deputy Foreign Minister for Political Affairs said that abiding by FATF regulations is a requirement for the implantation of Special-Purpose Vehicle (SPV) or any other financial mechanism.

“If the Iranian banks which are subject to US sanctions are affected by FATF sanctions, it would be natural that they cannot cooperate with this mechanism [SPV]. It is not a precondition, rather, it’s a requirement for cooperating with the European mechanism or any other mechanism,” said Abbas Araghchi in Islamabad, IRNA reported on Tuesday.

If FATF sanctions are back, Iranian banks may not be able to cooperate with China and Russia, let alone Europe, he highlighted.

The Iranian diplomat went on to say that negotiations with European side regarding the SPV are going on and that no further information on this issue can be released till the end of talks.

He also expressed hope that Iran’s Parliament, the Guardians Council, and the Expediency Council would arrive at a beneficial conclusion for the country regarding Iran’s accession to the convention against the funding of terrorism (CFT), keeping the routes of international cooperation open for the Iranian banks.

Elsewhere in his remarks, Araghchi said that he has discussed regional and international issues, as well as the status of bilateral relations with Pakistani officials.

US sanctions have created some barriers and also opportunities for bilateral cooperation, he said, adding that Iran and Pakistan conferred on ways to seize these opportunities.

Araghchi arrived in Islamabad on Monday to attend Iran-Pakistan 10th round of the Bilateral Political Consultations. He also met with Pakistani Foreign Minister Shah Mehmood Qureshi, and Foreign Secretary Tehmina Janjua.

MAH/IRN83121925

News Code 140182

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