EU to establish promised financial channel to Iran next Monday

TEHRAN, Jan. 25 (MNA) – European countries will formally establish their promised financial mechanism to continue business relations with Iran next Monday.

The Wall Street Journal correspondent has announced in a tweet the possibility of registering a special EU financial channel to continue trade with Iran under the US sanctions on Monday.

The financial channel which is known as the Special Purpose Vehicle (SPV) had previously been reported to be registered in France and be headed by Germany's representative.

In September 2018, following a ministerial meeting on the sidelines of the UN General Assembly, the United Kingdom, Germany, France, China, Russia and Iran announced that the European Union would establish a mechanism to ensure financial transactions with Iran after Washington's unilateral withdrawal from the 2015 nuclear deal and its decision to reimpose sanctions on Tehran.

KI/4522768

News Code 141851

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