Delays in implementing SPV distorts Iran's public trust in Europe

TEHRAN (defapress) – Head of Iranian Parliament's Research Center Kazem Jalali, said that “Special Purpose Vehicle” (SPV) has not yet started operating, adding "owing to prolonged delays in the operation of EU's trade mechanism, Iran's public trust in Europe has been distorted."

News ID: 74335

Date: 15 December 2018 - 12:56

Unfortunately, EU was expected to put SPV in place sooner, however their long delays have distorted Iran's public trust, Jalali told Mehr News correspondent on Saturday.

The member of the National Security and Foreign Policy Commission of Iranian Parliament added that "unfortunately, we have not heard any particular news regarding the operation and implementation of so-called Special Purpose Vehicle (SPV) to facilitate trade with Iran."

In response to those who believe that setting up EU's financial mechanism is timely, Jalili said "Europeans have had enough time to put the so-called mechanism in place, and they have not yet fulfilled their obligations seven months after the US' unilateral withdrawal from JCPOA."

Iran and the EU are working on Special Purpose Vehicle (SPV), which will replace the SWIFT system and will allow to circumvent US sanctions against Tehran. The mechanism aims to keep trade flowing in case of US sanctions against Tehran.

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