EU foreign ministers to discuss Iran SPV in Brussels

Speaking to reporters prior to the meeting, Mogherini said, “today's agenda covers the entire world basically: from Venezuela to Iran, from the Western Balkans to our relations with the African Union.”

EU Foreign Affairs ministers are scheduled to hold a meeting at the European Council headquarters in Brussels later today.

The establishment of the financial mechanism, usually referred to as 'Special Vehicle Purpose' (SPV) is widely viewed as the moment of truth on whether the EU is genuinely ready to live up to its promise to keep the Iranian nuclear deal.

Reportedly, either France or Germany might become the host nation for SPV.

The move comes after Luxembourg and Austria, under the US pressure, refused to host the mechanism, with Luxembourg officials being warned that hosting SPV could damage the country’s place as a major financial center hosting many international investment funds, European diplomats said.

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