EU’s financial mechanism needs to come into force asap

TEHRAN, Nov. 8 (MNA) – Head of Parliament’s Security Committee said Thu. that Iran needs to convince Europe to make their promised financial mechanism for trade with Iran operational as soon as possible.

Speaking to Mehr News correspondent on Thursday, Valiollah Nanvakenari, head of Parliament’s Security Committee, said while Iran cannot put its 100% trust in Europe regarding their promises for facilitating trade with Iran in the face of US sanctions, the process of talks with the EU is still “promising.”

“We hope that EU is committed to bringing their words into action and comply with their agreements with Iran regarding the implementation of a financial mechanism,” he added.

The parliamentary official warned that today more than ever, the US and Israeli regime are seeking to dissuade European countries from doing business with Iran, adding “of course, Europe is insisting on the preservation of the JCPOA and commitment to the international agreement.”

He went on to stress that Iran needs to persuade EU to make their promised financial mechanism operational as soon as possible, given the current situation.

He said it is up to EU to announce the time for when the mechanism would come into effect, although the Iranian foreign ministry could make more effort to make that happen as soon as possible.  

Following the US unilateral withdrawal from the Iran nuclear deal on May 8, and the subsequent re-imposition of sanctions on Nov. 5, which prevents other countries from doing business with Iran, EU promised to introduce some measures that could guarantee Iran's economic interests as long as the country agreed to stay in the agreement.

On September 24, Iran and the remaining parties of JCPOA, namely France, the UK, Germany, Russia, China, plus EU Foreign Policy Chief Federica Mogherini, released a joint statement announcing the setting up of a "Special Purpose Vehicle" to facilitate continued trade with Iran, bypass the US's financial system, and avoid any impact of Washington's secondary sanctions.

MS/4452063

News Code 139431

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