NEWS
ECONOMY   Nuclear  

Zarif Warns Again of Iran's Threshold of Tolerance in Expectation of EU Promises

Iranian Foreign Minister Mohammad Javad Zarif on Monday renewed warnings to the European Union to speed up launch of its long-awaited Special Purpose Vehicle (SPV) that is to enable banking and trade with Iran to keep the country under the nuclear deal after the US retreat last April.

"The Europeans are slow in implementing their undertakings under the (2015) nuclear deal. We will not wait for them (long) unless they take practical steps," Zarif said in an interview with the Arabic-language al-Mayadeen news channel on Monday.

Zarif warned that his country is not handcuffed in dealing with the situation, saying Tehran has multiple options on the table which could be brought into action if Europeans' promising words are not interpreted into action soon.

"We have several options after the US retreat from the nuclear deal and we will take them once our national interests make it necessary," he added.

European Union Foreign Policy Chief Federica Mogherini announced earlier this month that the EU would establish a mechanism to facilitate non-dollar transactions with Iran in the near future in a bid to bypass the sanctions imposed by the United States against Tehran.

"I will expect this instrument to be established in the coming weeks before the end of the year as a way to protect and promote legitimate business," Mogherini told reporters in Brussels.

Mogherini, however, declined to reveal more details on the financial mechanism.

The EU foreign policy chief reiterated that the EU foreign ministers all agreed on the preservation of the Joint Comprehensive Plan of Action (JCPOA).

"Iran's compliance with the JCPOA has been confirmed by the IAEA thirteen times so far," Mogherini said, adding that Europe expected Iran to remain committed to the deal as usual.

She also underlined that the special financial mechanism, also known as the Special Purpose Vehicle, to continue trade with Iran under US sanctions, would be put into operation in the coming weeks.

The SPV which was promised by Iran’s key European trading partners back in September after a meeting of foreign ministers of the remaining signatories to Iran nuclear on the sidelines of the UN General Assembly meeting in New York after the US withdrawal from the nuclear deal is supposed to keep Iran’s financial relations with Europe alive under the US sanctions.

Europeans' honesty in dealing with Iran nuclear deal of July 14, 2015 is seriously doubted by Iranian masses and activists that are discontent with talks with European counterparts.

In contrast with what European politicians and government are stating, many experts in Iran are suspicious of Europe's genuine commitment to the letters of the nuclear agreement of July 14, 2015, and are voicing their discontent with what they describe as Europe's strategy of killing time.

Even some commentators like Seyed Mostafa Khoshchashm are calling the Iranian government to start meaningful modifications in JCPOA undertakings, and specially remove the cap on the country's enriched uranium stockpile after the US unilateral withdrawal from the agreement; a call which is gaining momentum among the Iranians.

News No: 3068
Date: 2018/12/25 - 06:20
News Source: FARS News Agency

EU  Mohammad Javad Zarif  SPV  US  JCPOA 

Comments:

Leave a Comment:

   
   
   
 

OPEC’s Mohammad Barkindo: Rebound in Oil Investments Minimal

Investments needed to ensure stability in the global oil industry are returning after a downturn, but the pace is still slow, OPEC Secretary General Mohammed Barkindo said.
 

India: Domestic Sponge Iron Offers Correct Amid Slow Down in Inquiries

Sponge iron prices in Indian domestic market slightly fell by INR 200-500/MT (USD 3-7) in last couple of days over persistent limited inquiries.
 

India: Rebar Demand in Secondary Market Awaits Clarity

India's rebar demand in secondary market has remained dull amid slow material movement at current price range, reported by market participants.
 

Iran to Inaugurate New Phases of South Pars Gas Field Soon

The phases 22 to 24 of Iran’s giant South Pars gas field located in the southern province of Bushehr are slated to be inaugurated in coming days, the project’s manager said.
 

Renault to Return to Iran: Deputy Minister

An Iranian deputy minister said French carmaker Renault SA will return to Iran after it halted cooperation with Iranian companies under the US sanctions.
 

Gold-backed ETFs fell in February, following four months of inflows

After four straight months of inflows, holdings in global gold-backed ETFs and similar products fell in February by 33 tonnes to 2,479t, equivalent to $1.3 billion in outflows, and gold trading volumes decreased 5% below the 2018 averages to $104 billion per day, according to data from the World Gold Council (WGC).
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners