• Iran’s nuclear chief hopes SPV will take effect by year-end

Head of the Atomic Energy Organization of Iran Ali Akbar Salehi expressed hope that a Special Purpose Vehicle (SPV) that the European Union has developed to save the 2015 Iran nuclear deal will be in place by the end of December.

According to Tasnim news agency, speaking to reporters on Thursday, Salehi said Europeans have pledged efforts to implement their proposed special financial mechanism for saving the JCPOA and maintaining trade ties with Iran.

Noting that it is not easy to build consensus among 27 members of the European Union, he said European officials say development of the SPV is in its final stages.

“Based on the pledges that Europeans have made, we hope that Europe’s proposed package (SPV) would become operational by the end of the current year,” Salehi added.

EU countries led by France, Germany and Britain -signatories to the 2015 Iran nuclear deal- want to enable non-US trade with Iran to continue in defiance of Washington.

The EU has devised the SPV, a financial mechanism, to continue trade with Iran and neutralize the US sanctions against Tehran.

On May 8, US President Donald Trump pulled his country out of the JCPOA, which was achieved in Vienna in 2015 after years of negotiations among Iran and the 5+1 group (Russia, China, the US, Britain, France and Germany).

ME

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Dec 07, 2018 07:06 UTC
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